India Economy - Bracing For A Good Festive Season; Rural Outlook Mixed: Nirmal Bang

India Economy - Bracing For A Good Festive Season; Rural Outlook Mixed: Nirmal Bang

<div class="paragraphs"><p>People shopping on road during a festival. (Source:</p></div>
People shopping on road during a festival. (Source:

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Nirmal Bang Report

In the first fortnight of September 2022, economic activity remained healthy. Mobility for retail and recreation and essential services improved marginally while workplace mobility and use of public transport moderated slightly.

Both urban as well as rural unemployment declined, with rural unemployment at 6.6% and urban unemployment at 8.1%.

As of September 16, 2022, total Kharif crop sown area was down by 8.95% YoY. Area under rice was down by 18.9% YoY, area under pulses was down by 5.6% YoY. Area under coarse cereals was up by 7.3% YoY while area under oilseeds was down by 1.3% YoY.

Bank credit growth stood at 15.5% YoY, up from 15.3% in the previous fortnight.

Electricity generation remained healthy but moderated from the previous fortnight. Active Covid cases declined by 28.3% from the previous fortnight while the number of deaths was down by 53.3%.

Click on the attachment to read the full report:

Nirmal Bang Fortnightly Macro Tracker - Economy Update.pdf


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