New Delhi/IBNS, Feb. 27 -- Even in the face of global headwinds, some of the high-frequency indicators of the Indian economy have turned more benign and the nascent turnaround is evident in indicators like Purchasing Managers' Index for manufacturing, GST collections and non-EV and EV sales, according to the Monthly Economic Review for February released by the National Council of Applied Economic Research (NCAER).

GST collections, gross and net, achieved robust double-digit growth of 12.3% and 10.9% respectively in January 2025, as compared to subdued growth of 7.3% and 3.3% in December 2024, said the Review.

PMI for manufacturing increased to 57.7 in January, signaling expansion while PMI for services remained at an elevated level of 5...