Sitharaman said there was a clear understanding and direction from the prime minister that the Budget shall not draw on resources by taxing people when recovery is the most important element.
Modi said that the government has encouraged foreign capital flows, lowered taxes on infra investment, and set up institutions to boost economic growth.
Infra sectors received the largest share of the ₹7.5 lakh crore pie with an expectation that the capex will create the desired multiplier effect on the economy.
Per capita consumption expenditure, a key indicator of household spending, had contracted in FY21, before regaining momentum in FY22.
Economic recovery and low base effect are poised to push power generation to its sharpest recovery in years.
Muthoot Finance generally caters to small businessmen, shopkeepers, small traders, among others, and expects demand from them as the economy picks up.
FPI flows remain robust with India reporting the highest inflow among emerging market economies, says the monthly economic report for September.
In a matter of 41 trading days, since the last life-high on February 16, the second wave of the Covid-19 pandemic has caused between 8% -9.8% correction in the benchmark equity indices until April 19.
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.
