Indian economy is picking up pace. Here are the tell-tale signs of an upswing

A few macroeconomic and industry variables have begun to show noticeable growth while many others are on the mend as the Covid-19 pandemic shows signs of abating. If the current trend of moderation in cases is sustained, recovery could gather pace and yield a possible GDP upgrade — which would mean a smaller contraction in FY21 than forecast. Ashutosh R Shyam of ET Intelligence Group looks at the numbers.

HOME BUYING UP
Average daily property registration in Maharashtra at3,936 in Sept, highest since May 2019

RETAIL PAYMENTS SPIKE

• UPI, IMPS transactions at record high in Sept
• Avg UPI transactions in past 3 mths at Rs 3.29 L cr against Rs 1.96 L cr in the previous 12 months

HIGHER E-WAY BILL AND TOLL COLLECTION

• E-way bill volume rose 9.6% YoY to 57.4 m in Sept, highest monthly reading in 2 years
• Intra-state e-way bills up 15% YoY in first six months; interstate up 2.2%
• Rs 1,941 cr national e-toll mopup in Sept, up 5.4% from Feb
• Electronic toll volume at 110.08 m in Sept, nearly equivalent of Feb level

OTHER BRIGHT SPARKS

• RAILWAY FREIGHT: Volumes up 15% in first half of Sept
• PASSENGER CARS: Volumes grew 31% in Sept 2020, highest in 26 mths
• MANUFACTURING PMI: At 56.8, an 8-year high
• SEPT EXPORTS: $27.4b, up 5.27% YoY
• AVIATION: Weekly avg flyers at 139k for week to Sept 25, up from 38kin week to May 29
• GST MOPUP: Rs 95,480 cr in Sept, up 4% YoY