See formal sector at pre-covid level by year-end, says Montek

The Indian economy has bottomed out and the formal sector is likely to get back to pre-pandemic levels by the end of this year, former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia (pictured) said on Thursday. Addressing a virtual event, Ahluwalia said he is in favour of National Monetisation Pipeline (NMP) that will look to unlock value in infrastructure assets across sectors ranging from power to road and railways. “One of the main positives is that the economy has actually bottomed out. And the formal sector may be getting back to prepandemic levels by the end of this year, it will be different for different sectors, service sectors, etc,” he said.