BE: Budget Estimates. Financial sector The financial system in India, through a measured, gradual, cautious, and steady process, has undergone substantial transformation. It has been transformed into a reasonably sophisticated, diverse and resilient system through well-sequenced and coordinated policy measures aimed at making the Indian financial sector more competitive, efficient, and stable.
Inflation in that category looks quite persistent amid strong postpandemic demand for travel, dining out, and medical care. Disinflation in these services will likely require some combination of slowing demand and further recovery in supply. One potential avenue of disinflation is that a decline in prices for some goods may help lower related services prices.