Quick Summary
The Reserve Bank of India has released theReport on Currency and Finance (RCF) for the year 2021-22. The theme of the Report is Revive and Reconstruct in the context of nurturing a durable recovery post-COVID and raising trend growth in the medium-term. The Report reflects the views of the contribut
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FAQ :
The theme of the Report is 'Revive and Reconstruct', aiming to nurture a durable recovery post-COVID and raise medium-term growth.
The proposed reforms revolve around aggregate demand, aggregate supply, institutions, intermediaries and markets, macroeconomic stability and policy coordination, productivity and technological progress, structural change, and sustainability.
The report suggests a feasible range for medium-term steady state GDP growth in India of 6.5 – 8.5 per cent.
Reducing general government debt to below 66 per cent of GDP over the next five years is important for securing India's medium-term growth prospects.
Suggested structural reforms include enhancing access to litigation-free land, improving labour quality through education and health spending, scaling up R&D, creating an enabling environment for start-ups, rationalising subsidies, and encouraging urban development.
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