Budget 2021 a big effort by govt to boost country's economic recovery: S&P

Global rating agency Standard and Poor’s (S&P) on Tuesday said that India's Budget for FY22 represents a comprehensive effort by the central government to shore up the country's nascent economic recovery. However, the brawny spending programme also entails higher-than-expected general government deficits--at more than 14 per cent of GDP this fiscal year (FY21). It would be 11.6 per cent in FY22.

The rating agency, in a statement, said it currently sees no material effect from the Budget on India's key credit factors. But, the economy's brightening growth prospects will be critical to maintaining the sustainability of public finances. The general government