State Bank of India chairman Dinesh Kumar Khara said on Saturday that the country's economy, which is facing a threat due to the Corona epidemic, now sees a strong stance. He expressed the hope that by the next financial year it will return to the fast track. He said that there will be a fundamental change in the economy and now it will become a more mature economy because the economic units are now learning to limit the cost.
Addressing the annual general meeting of the Bengal Chamber of Commerce and Industry in a virtual medium, Khara said, "The economy is expected to be back on track again in the fiscal year commencing from April 2021. Changes in the nature of the economic unit will be a normal thing and some of these changes will be permanent." Khara said that the Indian economy has seen a 'flexible' stance to come out of the declining phase. By the end of the first quarter of the current financial year, some positive signs have started showing. According to him, companies are using capacity by an average of 69%, while corporate demand from investment demand will take some time to grow.
He said that capital expenditure schemes of cash-strapped public corporations will increase investment demand. He said that the corporate has become very conscious about taking loans and is using its internal resources. According to SBI chairman, major sectors of economics such as cement and steel have been doing well since April 2020. Corona has had the worst impact on the travel, tourism and hospitality sector.
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