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Confederation of Indian Industry has also urged state governments to lift the pandemic-induced restrictions on economic activity.
The benchmark Sensex lost 2,185.85 points and the Nifty slumped 638.6 points or 3.5 per cent during the week ended January 21.
Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, 2022.
The spending focus will likely be on welfare, rural, health and MSMEs.