The Finance Ministry said that India is now better prepared to counter the second wave of Corona virus.
Economy better to deal with second wave of COVID-19
The Finance Ministry has said in its monthly report that after successfully handling the first wave of Coronavirus pandemic, India is now better prepared to counter its second wave. The report says that the figures indicate that India is on its way to becoming better and stronger. According to the report, after suffering from a historical epidemic in the financial year 2020-21, the Indian economy is once again heading for better and stronger. This is reflected in the trends of many indicators.
The report said that paving the way for this spectacular comeback was strengthened by the increase in investment supported by the Aatmanirbhar Bharat Mission and the massive increase in infrastructure and capital expenditure in the General Budget 2021-22.
Second wave of COVID-19 started in India from February
The report said that the new wave of new cases started increasing in India from mid-February to the second wave of COVID-19 infection, although there was a gap of 151 days between the first wave and the second wave, while in other countries the difference was much less. .
Self-reliant India in 2021-22
The Finance Ministry said that with the end of the challenges of 2020-21, a brisk and self-reliant India will be seen in 2021-22 and the fiscal position of the Center has improved in recent months due to improvement in economic activity. . According to the report, the fiscal deficit of the Center during April 2020 to February 2021 was Rs 14.05 lakh crore, which is 76 per cent of the revised estimate 2020-21.
Government borrowed 13.7 lakh crores in 2020 – 21
The fourth quarter saw a spurt in revenue realization in the economy, sharing the sentiment of financial federalism, with an additional amount of Rs 45,000 crore disbursed to the states for the period 2020-2021. This was an increase of 8.2 percent above the revised estimate. The central government borrowed a total of Rs 13.7 lakh crore from the market during 2020-21, which it received at an average rate of 5.79 per cent. This rate was the lowest in the last 17 years.
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