Good news for the government before Budget 2021, manufacturing reform in January

IHS Markit Manufacturing PMI index: The manufacturing PMI index for the month of January has increased and is 57.7.

IHS Markit Manufacturing PMI index: Today Finance Minister Nirmala Sitharaman is going to present Budget 2021. It is expected that she will be able to give an economic vaccine to the country’s economy. Meanwhile, there has been news of relief for the government. The manufacturing PMI index has risen for the month of January and is at 57.7. This index shows how fast industrial activity is.

The IHS Markit manufacturing PMI index for the month of January has been 57.7. It was 56.4 in December 2020. A score higher than 50 in the PMI index is considered positive. Earlier, the core infra sector index was released for the month of December. The eight core infra sector index declined by 1.3 per cent in December. Sectors such as crude oil, natural gas, refinery products, fertilizer, steel and cement have reported a decline in core infra output due to poor performance.

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In December 2019, there was a growth of 3.1 percent in these core sectors. This data has been released by the Ministry of Commerce and Industry. Of the eight sectors, only the coal and electricity sector has gained momentum. Apart from this, negative growth has been recorded in six sectors. Between April – December 2020, the output of the core infra sector declined by 10.10 percent amid the Corona epidemic. In the last half of last year, the output of these sectors had registered a growth of 0.60 per cent.

 

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