Corona has given such a blow to the economy of the country that it will take up to 12 years to recover from it. This has been said in the report of the research team of the Central Reserve Bank. The report of the Reserve Bank shows that the country’s economy has suffered a lot due to Corona.
The RBI’s report on currency and finance for the financial year 2021-22 also said that maintaining a periodic balance between monetary and fiscal policy should be the first step towards stable growth. However, the central bank has clarified that this report is not its own opinion but the views of the people who prepared the report.
Got several suggestions: Several structural reforms have been suggested in this report. These include suggestions for increasing access to low-cost land free of litigation, increasing public spending on education and health, and improving the quality of labor through the Skill India Mission.
According to the report, the war between Russia and Ukraine has also slowed down the pace of economic revival. Commodity prices rising due to war, weakening global economic outlook and dire global financial conditions have also created difficulties.