Budget 2021-22 will help Indian economy
According to S&P, the budget set for the financial year 2021-22 will also help in bringing the economy back on track. The economy still faces risks as it moves from stabilization to recovery. India is currently suffering losses due to the Corona virus epidemic, which estimates long-term losses equal to about 10 percent of GDP.
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The Global Rating Agency said that by the middle of 2021, the Indian economy will be on a recovery track. S&P believes that Indians With the rapid improvement in the economy, the steps taken by the Reserve Bank of India (RBI) and the efforts of the Government of India, the decline in the economy is decreasing. The Indian banking system will also regain its momentum by the middle of 2023.