The production-linked incentive schemes seek to reimagine the dreams of the Indian economy. It will, of course, take a few years to completely evaluate the impact of them.
Education, unfortunately, has never been seen as a key to India's economic growth. If India is indeed serious about forging a robust economic growth, this mindset needs to change.
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.
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%.
The Budget is one of the most awaited events and this year’s Budget certainly did not disappoint. With a series of bold, reformist measures, it signalled a clear shift to growth orientation.
As expected, the economy staged a turnaround in the third quarter of FY21 with a GDP growth figure of 0.4%. The stage is now set for a big rebound in FY22.
India's increased healthcare spend will be a big step towards strengthening its capacity to combat future pandemics. It is also an opportunity to lay the foundation for a robust healthcare ecosystem.
This year’s Union Budget has raised the sectoral cap in insurance. But a favourable regulatory environment is necessary for some other sectors which have huge potential for growth.
As a fiscal roadmap to reinstate and revive India’s economic recovery, the spending oriented Union Budget 2021 comes across as an exercise in prudence.
