Sitharaman also proposed to launch a state-backed digital rupee using blockchain and other technologies, adding that the same would be issued by the central bank in 2022-23. This, she hoped, would give a big boost to the economy.
India’s services sector, which includes contact-intensive segments such as hotels and transportation, accounts for over half of the country's nearly $3-trillion economy, and was hit the hardest by the pandemic-related restrictions.
Given China’s economy is estimated to grow 8.1% in 2021, India becomes the fastest-growing major economy, snatching the tag from the world’s second-largest economy, and is expected to keep it for the next two years.
Survey also highlighted that a record 44 Indian startups achieved unicorn status in 2021, taking the overall tally to 83 with a combined valuation of $277.77 billion
Sectors such as IT/BPO imparted skill training in 29.8% of estimated establishments, followed by 22.6% financial services and 21.1% education sector’s establishments, said the Economic Survey 2022