Economy reviving from COVID-19 blow: Official

New Delhi, August 10

The nation’s economic system is reviving from the affect of COVID-19 pandemic and that is seen from the efficiency of sectors corresponding to FMCG and agriculture, Food and Public Distribution Secretary Sudhanshu Pandey mentioned on Monday.

He mentioned that FMCG revenues have come again to nearly 85 per cent of pre-COVID occasions, which is a vital indicator.

“Indian agricultural output, which is roughly about USD 264 billion, is leading the recovery from the front,” he mentioned at a Ficci webinar.

He mentioned that this yr in the course of the Rabi crop, about 12 per cent extra procurement has been performed, which is sort of 590 lakh metric tonnes.

It has pumped in additional than Rs 1 lakh crore in farmers’ hand and the kharif procurement has damaged all information.

“Sugarcane industry has put in another Rs 85,000 crore. So these three crops alone have put over Rs 3 lakh crore into rural India,” Pandey added.

He mentioned that these indicators will assist companies place themselves to push the FMCG sector in rural areas.

He additionally mentioned the meals and beverage business suffered some setback in the meanwhile due to decline in industrial consumptions, however “its recovery is again on the anvil and we hope that the food and beverages will take charge”. PTI

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