The leading Swiss wealth management group expects that just like it did after the global financial crisis, discretionary spending will recover after Covid-19 abates.
The recent surge in Covid-19 infections, the central bank says, adds uncertainty to the outlook on domestic growth as restrictions could dampen demand improvement and delay the return of normalcy.
Aided by strong demand recovery, credit ratio rebounds to 1.33 in H2FY21, from 0.54 in H1FY21. GDP could grow at 11% in FY22, but the resurgence in Covid-19 cases is a key downside risk, says CRISIL.
The Covid-19 pandemic failed to affect the bulls’ spirits, as benchmark indices saw absolute annual gains between 75.2% and 117.2% while FPIs pumped in a record ₹2.74 lakh crore into equities.
With the economy bouncing back, co-living and PGs are witnessing a revival. But the pandemic has changed the rules of the game. And this sector needs to imbibe newer learnings to stay afloat.
The pandemic, ultimately, was unsuccessful in denting the country's capital raising confidence, as India Inc. raised over ₹1.88 lakh crore, beating the record of over ₹1.75 lakh crore raised in FY18.
The Covid-19 disruption has ignited a new era of value-based customer-centric banking. It has also given rise to platform and data-driven approaches, signalling a radical change in retail banking.
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.
