The gradual receding of the second wave of the COVID-19 pandemic has created scope for economic recovery following the adverse impact witnessed in April and May this year, according to the PHD Chamber of Commerce and Industry (PHDCCI), which recently said its Economy GPS Index has increased to 110.3 for June from a nine-month low of 91.5 for May.
Because of the decline in new coronavirus cases, gradual unlocking in various parts of the country and calibrated economic reforms announced by the government, economic recovery has resumed once again, PHDCCI president Sanjay Aggarwal said.The gradual receding of the second wave of the COVID-19 pandemic has created scope for economic recovery following the adverse impact witnessed in April and May this year, according to the PHD Chamber of Commerce and Industry (PHDCCI), which recently said its Economy GPS Index has increased to 110.3 for June from a nine-month low of 91.5 for May.#
At this juncture, there is a need to fuel the drivers of household consumption and private investments to enhance the aggregate demand in the economy as it will have an accelerated effect on the expansion of capital investments in the country, the industry chamber added.
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