Budget 2022: Sharp rebound, recovery of economy reflective of India's resilience, says Sitharaman
Business | February 01, 2022 11:29 ISTBefore the presentation, a Union Cabinet meeting was held which approved the Budget 2022-23.
Before the presentation, a Union Cabinet meeting was held which approved the Budget 2022-23.
Nirmala Sitharaman said that the government has approved a Rs 1.1 lakh crore loan guarantee scheme for COVID-19 affected sectors.
Speed and scale of vaccination against COVID-19 will shape the path of economic recovery which has the resilience and the fundamentals to bounce back from the pandemic and unshackle itself from pre-existing cyclical and structural hindrances, said a RBI report.
Governor of Reserve Bank of India (RBI) Shaktikanta Das on September 16 said India's economic recovery will be gradual since the country is reopening in wake of rising COVID cases.
India's economic recovery is more likely to be a 'U' or 'W' shaped rather than 'V' as the impact of COVID-19 will be profound on a nation that was already struggling for growth prior to the pandemic, analysts said.
The current situation is unique. Nations face a tough call balancing the ‘see-saw’ with corona and economy at its opposite ends; any focus on one, comes at the cost of other. And as unwelcome as it may seem, the situation is here to stay for some time impeding the usual life and business across the globe.
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New York: Stating Indian economic recovery is still uneven, Reserve Bank of India (RBI) Governor Raghuram Rajan has exuded optimism that the country will be ‘solidly' in the five per cent growth bracket during the
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