New Delhi: After it was badly battered by pandemic-led lockdowns, the ease in restrictions and subsequent economic recovery has boosted the volumes of the...
"In order to make the post-pandemic recovery more inclusive and sustainable, financial inclusion would continue to be our policy priority," RBI Governor Shaktikanta Das said.
Sitharaman also cited digitisation, climate action and sustainable infrastructure as the three catalysts of economic recovery.
Fitch believes that rapid vaccination could support a sustainable revival in business and consumer confidence; however, without it, economic recovery would remain vulnerable to further waves and lockdowns.
PHDCCI President Sanjay Aggarwal said that trade and industry have to be rejuvenated for achieving a high economic growth trajectory in 2021-22.
According to an assessment by the Reserve Bank, the second wave has cost the nation about Rs 2 lakh crore in terms of output lost.
The index for all items excluding food and energy rose 3.8 per cent over the last 12 months, the largest increase since the period ending June 1992, according to the Labour Department.
Terming the uneven recovery "morally wrong and politically corrosive", former RBI Governor D Subbarao said liquidity in the domestic market and foreign fund inflows are leading to soaring of prices of stocks and other assets
The government is targeting a deficit between revenue it earns and what it spends at 6.8 per cent of the gross domestic product (GDP) in FY22 (April 2021 to March 2022).
However, the Asian Development Bank (ADB) cautioned that the surge in Covid-19 cases may put the country's economic recovery at risk.
Rising unemployment and plunging demand have once again turned the spotlight on the gloomy urban economy
Reflecting back to the economic recovery process after the 1997-98 financial crisis, the report said the effects of the pandemic are likely to be "worse."
After crashing over 1,469 points in early trade, the 30-share BSE Sensex pared some initial losses to close at 47,949.42, down 882.61 points or 1.81 percent.
IMF says it expects this to fall to 80% as a result of economic recovery
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