India’s growth would bounce back to 10.4% in the upcoming fiscal according to India Ratings and Research (Ind-Ra). FY22 would broadly be covering the lost ground of FY21. Regarding this reduced allocation to the rural employment guarantee scheme. The rating agency expects GDP growth to turn positive at 0.3 per cent in the January-March quarter of FY21 after shrinking in the first nine months of the year.
When the crisis is largely under control, not completely taken care of, but the Covid-19 situation is under control, with the economy opening up, the requirement for fiscal stimulus will reduce, and that is what is being reflected in the budget.
Important takeaways for all competitive exams:
- MD & CEO of India Ratings and Research: Rohit Karan Sawhney.
- India Ratings and Research Headquarters: Mumbai, Maharashtra.