Economy May Take 12 Years To Recover From Loss Due To COVID-19: RBI Report
According to a report released by the Reserve Bank of India (RBI) on Friday i.e. 29th April, the Indian economy is likely to take more than 12 years to recover from the damage of Covid-19. In the report by RBI on 'Money and Finance for the Year 2021-22', the RBI said that the structural changes brought about by the pandemic could potentially change the growth outlook in the medium term. The report issued even said that continued thrust on capital expenditure by the government, promotion of digitization, e-commerce, start-ups, renewables and supply chain logistics can contribute to the growing opportunities for new investments. RBI further said in the report that the pre-Covid situation growth rate would have been 6.6 per cent (CAGR for 2012-13 to 2019-20) and it would have been up...
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