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In a usual year, the Union Budget is loaded with expectations from all quarters common citizens, industry, governments’ coffers, and investors. This year, under pandemic circumstances, there was an additional expectation from the Union Budget (2021-22) to show India the way forward after fighting a year of myriad challenges.
The COVID-19 pandemic brought with it unforeseen circumstances and difficulties: an overwhelmed healthcare infrastructure, uncertainty surrounding jobs and wages, and the growth trajectory taking a hit.
However, India stepped up to the challenge and used this crisis for structural reforms, and started preparing for growth revival since the very beginning of the pandemic. The sharp recovery is testament to this pursuit.