India's GDP is likely to rebound to 8.5% in 2022, S&P says, but a forgotten community struggles to find any glimmer of hope
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.India's gross domestic product may rebound to 8.5% in 2022 before suffering a "deep contraction" in this fiscal year, according to S&P Global Ratings.
However, the world's fifth-largest economy is faced with both a migrant crisis of epic proportions and community distress as tens of thousands struggle to persevere during the pandemic in one of the world's most populous nations. A sharp rise in national debt is expected this year as the government reels out more stimulus to address the pandemic while dealing with weak revenue generation, but S&P expects its fiscal position to return once a global recovery stabilizes.$264 billion stimulus package
Particularly so for migrant laborers who do not own digital payments accounts. Many villagers who migrated to cities for higher-paid jobs wereonce the nationwide lockdown rendered their daily jobs redundant.
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