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Signs of India’s economic recovery visible: CII survey

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New Delhi: There are signs of a recovery in the economy, albeit a slow one, the Confederation of Indian Industry (CII) said on Sunday.

“What is especially significant is that there are fewer sectors anticipating negative growth,” CII Associations’ Council (ASCON) chairman Naushad Forbes said in a statement here, releasing a survey on the issue.

“There has been a significant and perceptible positive movement in percentage points recorded by many of the sectors which were in moderate and negative growth category a year ago,” Forbes said.

The survey by ASCON for the April-June first quarter, based on responses collected from sectoral industry associations, reveals a slight improvement in growth trends in production over the corresponding period a year ago.

Of the 93 sectors polled, 16.1 percent recorded excellent growth of more than 20 percent during the quarter in question as compared to 7.1 percent in the year-ago period.

However, the share of sectors that saw high growth rates of between 10 to 20 percent has reduced significantly to 9.7 percent in the April-June quarter from 14.3 percent during the same period of the previous fiscal.

The survey tracked the estimated growth trends in terms of production, sales and exports.

Responses were classed under four broad categories — excellent (growth in excess of 20 percent), high (growth in the range of 10-20 percent), moderate (0-10 percent) and negative (below zero).

The share of sectors reporting moderate growth declined marginally to 51.7 percent during the quarter as compared to 51.8 percent in the period a year ago.

Further, the number of sectors recording negative growth has fallen from 26.9 percent in the first quarter last year to 23.6 percent this year.

On the other hand, the survey’s respondents cited industrial relations, transport infrastructure bottlenecks and the cost and availability of finance as moderately important factors impeding growth.

“On the issues impacting growth, margin pressure from stiff competition, competition from imports, shortage of power, high regulatory burden, lack of domestic and export demand, shortage of skilled labour and talent, and high tax burden have been cited as the most important constraints by more than 50 percent of the respondents,” the CII said.

“However, a sustainable recovery would be conditional on improvement in domestic demand and investment revival,” it added.

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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