New Delhi: The process of decline in the important sectors of the country’s economy has slowed down in the month of July. The Chamber of Commerce and Industry Assocham said this on Monday. It is noteworthy that the country’s gross domestic product (GDP) has registered a big decline of 23.9 percent in the April-June quarter. According to the analysis done by ASSOCHAM, during July 2020 significant improvement has been observed in important sectors like cement, steel, and cuckoo. Although their figures show a decline on an annual basis, they have improved rapidly. In the first quarter, there was a steep decline in these areas.
According to Assocham, coal production declined by 15 percent during the first quarter of 2020–21. But in July, the decline was reduced to 5.7 percent. Similarly, after a sharp decline of 38.3 percent in April-June, cement production declined to 13.5 percent in July. The analysis said that the country is fighting an unprecedented battle against Kovid-19 and in doing so every possible effort is made to have the least impact on the economy. In this situation, the major sectors of the economy are progressing well under new circumstances.
Assocham Secretary General Deepak Sood said, “Whether a factory worker or a person going to office and whether the CEO of a company is looking to adapt itself to all new circumstances.” Increasing confidence in them will help in overcoming the situation in future. ” The Board of Industries has said that steel production has improved after a decline of 56.8 percent in April-June and in July it fell to 16.4 percent. Assocham has said that in the analysis it has considered production and consumption at the same level, because the data on goods stored in its warehouses is not available.
