Page 561 - ES 2020-21_Volume-1-2 [28-01-21]

188 Economic Survey 2020-21 Volume 2

5.33 During the pandemic period, the government constituted an Inter-Ministerial Empowered
Committee to make recommendation for the export of drugs/items requested by foreign
governments especially drugs like Hydroxychloroquine (HCQ) and Paracetamol. NPPA
coordinated with drug manufacturers of these medicines and created a master database
and reporting framework for production and supply of these medicines. Based on the
recommendations of Empowered Committee, Department of Pharmaceuticals/NPPA issued
recommendation/orders which enabled the MEA/DGFT to fulfill various export commitments
towards 114 countries in respect of HCQ and 24 countries in respect of Paracetamol, including
SAARC Nations. On the intervention of Empowered Committee, during March-May 2020, the
number of manufacturing units of Hydroxychloroquine increased from 2 to 12 and the country’s
production capacity of Hydroxychloroquine has increased three times i.e., from approximately
10 crore tablets per month to approximately 30 crore tablets per month. Currently, India is
having surplus of Hydroxychloroquine tablets over and above its domestic requirements.

NHB RESIDEX

5.34 The Housing Price Indices (HPIs) are a broad measure of movement of residential
property prices observed within a geographic boundary. The National Housing Bank (NHB)
RESIDEX captures two housing price indices viz. HPI@ Assessment Prices and HPI@
Market Prices - Under Construction Properties based on the data available for 50 cities
with quarterly updation. The Composite HPI@Assessment Prices which stood at 83 in June
2013 has moved up to 112 in the quarter ending September 2020. The index has moved up
with a compound annual growth rate of 4.2 per cent over the years. The Composite HPI@
Market Prices for Under Construction Properties which stood at 85 in June 2013 has steadily
moved up to 104 in the quarter ending September 2020. The index has moved up with a
CAGR of 2.8 per cent over the years. The total number of transactions for HPI@Assessment
Price reduced by 71 per cent from March 20 to June 20 on Q-o-Q basis while on YoY basis
transactions reduced by 67 per cent from June 19 to June 20, indicating that COVID-19
crisis has significantly impacted the residential real estate market. New listings were down
significantly and buyers also reduced their home buying activity. During the quarter July
2020 to September 2020, transactions for HPI@Assessment Prices have increased by around
150 per cent on Q-o-Q basis, thus, it is observed that sales have retrieved in affordable
segments, reflecting economic recovery in the real estate sector.

MEASURES TO CONTROL INFLATION

5.35 The Government reviews the price situation regularly and has taken number of measures
from time to time to stabilize prices of food items. In the wake of rising prices of pulses, onion and
potato, the Government has taken several steps to improve the availability of these commodities
and make them available to consumers at affordable prices. These include: i. Banning the export
of onion w.e.f. 14.09.2020, revoked w.e.f. 1.01.2021. ii. Imposition of stock limit on onion under
the EC Act w.e.f. 23.10.2020 to prevent hoarding, lapsed 31.12.2020. iii. Easing of restrictions
on imports, facilitating imports at integrated check-posts, issuance of licenses for imports and
reduction in import duties. These measures have resulted in increased imports of onion, tur dal
and masur dal in the country and resultant cooling of prices.