InvestorQ : When does India witness the revival of Financial Services Industry & particularly Financial System??
Yadunandan Ravikumar made post

When does India witness the revival of Financial Services Industry & particularly Financial System??

Answer
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priya Shah answered.
7 days ago


There is no particular answer to this question as there exists a lot of uncertainty in the economy.  However, we can rely on the facts and data that we are witnessing during this time. If you see, the entire period of COVID-19 lockdown was a snag for the world economy. For about 4 months, things went slower than expected and due to which the GDP data for the quarter showed a contraction of 23.9% on a y-o-y basis, this being the first GDP contraction in the past 40 years.

An expert said that “If you look at the direct and indirect tax collections for the quarter ending June-20, they were better than expected and even the e-way bill data hinted a positive trend. All these signs show that the economy will revive sooner.”

Basically, there are two aspects to it, some say that the chances that the economy will get back on its feet sooner than expected, and some claim that economy has a long hurdle to tackle. Well, you cannot really choose a side because both have their points to make. What you should consider is that we are slowly making our way to the recovery, but no one can define the actual time that will be used in the entire process.