When you convert their currency into a comparative figure, then the Russians have a multiple times bigger modernisation budget than India. Until the war began, even normally they had twice our modernisation budget in terms of dollars. But their ruble rate was half that of India's rupees, so the overall budget was 4 times bigger. Their post-war modernisation budget could be even more bigger, possibly even 8-12 times, even significantly exceeding the US capital budget.
For example, a Western SSK is at least $1B, and current SSNs cost $3B. But a Russian Yasen-M probably costs just $700M. It's also bigger, so an equally big US sub may cost nearly $5B, which means for every Sea Wolf class the US builds, the Russians can buy 7 Yasen-Ms. With the current exchange rate, Russia only needs $20B to match America's $140B. But Russia's is at least $50-60B today. Most of that money is currently going into tripling or even quadrupling the size of their ground forces at the moment, within 3 years. And they have claimed to expand their aircraft and shipping production too. It will take a few years to see these changes, perhaps 2-3 years if they announce something, or up to 5 or 6 if they decide to demonstrate it. We can only be sure of the status by the end of the decade.
As for their fleet being bigger than China's, the Chinese have only recently become rich, whereas the Russians have simply used their Soviet era expertise and infrastructure to gain a 15-year lead over them. The Chinese can catch up though. Most of the Russian subs are pretty old, and any new expansion will take time to deliver. The Chinese will probably catch up with the US before 2040, they have 4 SSN lines compared to 2 American lines.