Economic recovery uneven, government should continue support measures for affected sectors, says UBS report

Pointing out that the ongoing recovery is still uneven and not broad-based, a foreign brokerage report said the government should continue the income support measures for the affected sectors.

The Swiss brokerage UBS Securities India, citing their macro tour results, said the economy is on a recovery path with potential growth of 6-6.5 per cent in the medium to long term.

Its survey participants are of the view that the economy is seeing a reasonable recovery after three waves of the pandemic, even though it is not broad-based, the brokerage’s chief economist Tanvee Gupta Jain said.

She pointed out that this is because corporate India (or the organised sector) has fared well during the pandemic but growth in the non-corporate or unorganised sector remains sluggish.

Therefore, she said, the key will be to boost growth in the informal/unorganised sector via adequate policy support by undertaking the committed capex targets as indicated in the Budget; providing funding support to…

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