When it came to overall expenditure, households have reported an increase, due to a higher spending on essential items
Rural consumption up 58%, compared to 28% in urban areas
India's economy was $2.7 trillion in 2019, and by the end of March 2022, the country would be at the same level.
Subramanian has expressed his gratitude as well as praised the leadership of FM Nirmala Sitharaman and Prime Minister Narendra Modi.
Repo rate and reverse repo rate have been kept unchanged along with accommodative stance
Since March 2020, the RBI has kept the repo rate at 4%, due to its focus on supporting the economy
Consumer prices may recede to pre-pandemic levels by the middle of next year
A gradual fiscal consolidation will further boost the sentiment, say analysts
In the financial sector, the introduction of Insolvency and Bankruptcy Code has led to resolution of stressed assets worth Rs 2.4 lakh crore
Noted economist Arvind Panagariya said India needs to deal with Covid-19 as quickly and decisively as possible