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New delhi ।High Frequency Indicators (HFIs) are being monitored to track the progress of economic recovery in India since the first COVID-19 case was reported in the country in January, 2020. Latest information indicates that among 22 HFIs, full recovery has been achieved in respect of 19 FPIs, as their latest levels in the months of September/October/November, 2021 are higher than their pre-pandemic levels in the corresponding months of 2019. Among the 19 FPIs, there are some indicators whose recovery is way beyond 100 per cent, such as E-Way Bill by Volume, Merchandize Exports, Coal Production, Rail Freight Traffic etc, which suggests that not only the recovery is complete, the economic growth is now gathering momentum over the pre-pandemic levels of output. This is further confirmed by the estimates of GDP recently released for Q2 of 2021-22, whose Year on Year growth in real terms at 8.4 per cent takes the output level higher than the pre-pandemic level of Q2 output in 2019-20.

No.
Indicator
Unit
Month
2019
2021
Recovery
1
UPI (Volume)
Crore
October
114.8
421.9
367
2
Average ETC Collection*
Rs. Crore
October
68.9
108.2
157
3
Google Mobility@
Percent change from baseline
November
-
47.9
148
4
Merch Imports
USD billion
October
38.0
55.4
146
5
E-Way Bill Volume
Crore
October
5.3
7.4
139
6
Merch Exports
USD billion
October
26.2
35.5
135
7
Coal Production
Index
Base (2011-12)
September
87.3
114.1
131
8
Rail Freight Traffic
Thousand tonnes
October
93820
117000
125
9
Fertilisers Sales
Numbers
October
45.2
54.2
120
10
PMI Services
Index
October
49.2
58.4
119
11
Power consumption
Mega Units
October
99.0
111.0
112
12
PMI Manufacturing
Index
October
50.6
55.9
110
13
Tractor Sales
Numbers
October
106889
115615
108
14
Cement Production
Index
Base (2011-12)
September
131.3
140.4
107
15
Port Cargo Traffic
Thousand tonnes
October
57.0
60.0
105
16
8-Core Industries
Index
Base (2011-12)
September
120.7
126.7
105
17
IIP
Index
Base (2011-12)
September
122.9
127.9
104
18
Fuel Consumption
Thousand MT
October
17343.5
17873.0
103
19
Air Cargo Traffic
Thousand Tonnes
October
300.7
301.8
100
20
Steel Consumption
Thousand Tonnes
October
8831
8751
99
21
Domestic Auto sales 
(Excluding Commercial vehicles)
Lakhs
October
21.0
18.0
86
22
Air Passenger Traffic
Lakhs
October
295.8
196.4
66
High Frequency Indicators Performance 
Note:
1. *Value of Average ETC collection corresponds to 2020 (not 2019).
2. @ Baseline value (Jan-Feb value of 2020)