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ICRA Research Report
With the further easing of the state-wise restrictions, especially across the southern states, the roots of the economic recovery deepened in July 2021.
Despite a normalising base, eight of the 15 tracked high frequency indicators recorded an improvement in their year-on-year expansion in July 2021.
Moreover, 10 of the 13 non-financial indicators recorded a month-on-month uptick in July 2021, although the pace of the improvement expectedly eased from the levels seen in June 2021.
Encouragingly, the volumes of several indicators in July 2021 rose above their pre-Covid-19 (July 2019) as well as the April 2021 levels.
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