Indian Economy will take 12 years to Overcome Losses due to Covid, says RBI

As per the Reserve bank of India (RBI), the Banking Regulator of the Nation has said that for the Economic and Financial Losses that India suffered due to the Corona Virus, it may take a whopping 12 years, to merely recover the losses.

In its report on 'currency and finance for the year 2021-22', the RBI said, the pandemic is a watershed moment and the ongoing structural changes catalyzed by the pandemic can potentially alter the growth trajectory in the medium-term.

The report further added, "Sustained thrust on capital expenditure by the government, push to digitalization and growing opportunities for new investment in areas like e-commerce, start-ups, renewables and supply chain logistics could, in turn, contribute to step up the trend growth while closing the formal-informal gap in the economy."