Domestic consumption, which accounts for 55 per cent of GDP, has decreased during the financial year 2020-21 in the country. According to a report, the need for some measures has been mentioned in the upcoming general budget. The report suggested some stringent measures to mitigate the losses by focusing on income and job-generating measures in the near term while emphasising a softer fiscal policy. Citing the latest estimates of the National Statistics Office on Gross Domestic Product (GDP). for the current financial year, CRISIL in a report on Tuesday said that domestic consumption in the current fiscal is 3% points lower than the level of the previous fiscal. This is the worst performance on the expenditure-side of GDP since the pandemic. Emphasising the importance o...
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