Economy sees sustained growth momentum; EAI-GVA up 4.9% in Jan

Economic Activity Index (EAI) for India's real gross value-added (GVA; called EAI-GVA) posted faster growth of 4.9% Y-o-Y in January 2021 as compared to 4.7% in January 2020.  

Although EAI-GDP continued to decline, it contracted at the slowest pace in 11 months by 3.7% YoY in January 2021.

A slower decline in EAI-GDP was on account of the slowest decline in consumption in 11 months. Total consumption (personal and government) contracted 4% YoY in January 2021, against 4.4% Y-o-Y in December 2020 and 3.4% Y-o-Y growth in January 2020.

Investments declined faster in January 2021, after posting the slowest decline in 10 months in December 2020. Investments, however, declined much faster at 4.7% YoY in January 2021 as compared to -1.6% YoY in December 2020.

Daily power generation was up 4% YoY in February 2021 and 4.2% in January 2021.  

In a sign of sustained growth momentum, e-way bill generation was at the highest-ever level of 2.3m units in February 2021.

SHIVANI SHARMA, PRAGATI SRIVASTAVA