Moneycontrol launches Eco Pulse Index; Indian economy shows steady momentum in December

New Delhi: India’s economic momentum showed steady improvement in December 2025, according to the newly launched Moneycontrol Eco Pulse Index, a high-frequency monthly indicator designed to track real-time economic activity.

The Moneycontrol Eco Pulse Index stood at 53.4 in December. A reading above 50 indicates stronger-than-average economic conditions compared with the previous month, while readings below 50 signal moderation. 

The Index tracks more than 30 high-frequency economic indicators on a monthly basis.

The improvement in momentum was reflected across several indicators released during the month. GST collections growth improved to 1.3 per cent in December from 0.7 per cent in November. 

Electricity demand returned to positive growth after two consecutive months of contraction. Four-wheeler sales and non-food credit growth also picked up, while two-wheeler sales, a key proxy for rural demand, were higher than the previous month.

However, growth moderated in some consumption-related indicators. UPI transaction volume growth and Aviation Turbine Fuel consumption, a proxy for air travel and cargo movement, saw a slowdown during the month.

Moneycontrol Eco Pulse is a composite high-frequency index aimed at measuring India’s economic momentum on a monthly basis and providing early signals of changes in the direction of GDP growth. 

The Index aggregates indicators spanning industrial activity, consumption, business confidence, transport and employment into a single measure, offering a monthly snapshot of economic conditions.

According to Moneycontrol, the Index uses a dynamic statistical framework to extract a common economic signal from multiple datasets, while filtering out short-term noise and extreme fluctuations. 

The methodology is aligned with international best practices used by central banks and statistical agencies for economic nowcasting. 

The Eco Pulse also includes a customised Economy Heat Map to track month-on-month changes and identify emerging trends and potential turning points.

The methodology has been vetted by an economic review panel comprising Laveesh Bhandari, President and Senior Fellow at the Centre for Social and Economic Progress; Shubhashis Gangopadhyay, former Advisor to the Finance Minister and Managing Trustee at the India Development Foundation; DK Srivastava, Chief Policy Advisor at EY India; and Amitendu Palit, Senior Research Fellow at the Institute of South Asian Studies, National University of Singapore.

“Smart investing requires real-time economic data intelligence and Moneycontrol Eco Pulse aims to fast-track access to systemised macro information to bridge the time lag between official statistics and fast-moving economic activity,” said Nalin Mehta, Managing Editor, Moneycontrol and Chief AI Officer – Editorial Operations, Network18. 

He added that the Index is intended to complement official data by offering an early, directional signal on whether economic momentum is strengthening or weakening.

Moneycontrol said it will update the Eco Pulse in real time and use it as a core analytical tool across its macroeconomic coverage, providing readers with an early, data-driven assessment of India’s growth trajectory ahead of official GDP releases.

Reacting to the launch, Bhandari said the initiative of tracking the Indian economy in real time using objective data would be useful for analysts and researchers. 

Gangopadhyay said continual monitoring of economic change was critical in a fast-changing world and that the Index could help policymakers anticipate sector-wise shifts. 

Srivastava said the methodology for nowcasting quarterly GDP growth using a monthly index showed robust preliminary results. 

Palit said the Index would help businesses, analysts and students better understand real-time economic dynamics.