Updated Dec 24, 2020 | 18:12 IST
The RBI s monthly bulletin report emphasised that more evidence has emerged since the last bulletin which shows that the economy is coming out of the Covid-induced slowdown. Indian economy recovering fast, growth to turn positive in Q3: RBI | Photo Credit: BCCL
New Delhi: The Indian economy is recovering faster than expected and may post positive growth in the third quarter of the current financial year, as per ‘state of the economy’ report in the December Bulletin of the Reserve Bank of India (RBI).
The report said: “Indian economy is pulling out of Covid-19’s deep abyss and is reflating at a pace that beats most predictions. Although there are headwinds, “steadfast efforts by all stakeholders could put India on a faster growth trajectory,” it mentioned.
Indian economy is recovering faster than expected and may post minor positive growth in the third quarter, but efforts need to be redoubled to fight inflation so that it doesn’t hurt the incipient growth impulses, according to the State of the Economy report in the December Bulletin of the Reserve Bank of India (RBI). “Indian economy is pulling out of Covid-19’s deep abyss and is reflating at a pace that beats most predictions, the report said. Although there are headwinds, “steadfast efforts by all stakeholders could put India on a faster growth trajectory,” the report said. The National Statistical Office’s (NSO) end-November release showed that the Covid-19 pandemic imposed retrenchment of the first quarter was much shallower in the second quarter and the economy was reflating at a pace that beats most predictions. RBI’s nowcasting model also shows that the economy will post a positive economic growth rate of 0.1 per cent in the third quarter. The fourth bi-mont
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RBI sees economy recovering faster
Indian economy is recovering faster than expected and may post minor positive growth in the third quarter, but efforts need to be redoubled to fight inflation so that it doesn’t hurt the incipient growth impulses, according to the State of the Economy report in the December Bulletin of the Reserve Bank of India (RBI).