“However, recovery in the labour force participation rate and the employment rate remain significantly lower than their levels before the lockdown,” CMIE said
CMIE data shows the labour participation rate was 40.5 per cent in February 2021, slightly lower than the 40.6 per cent recorded in January 2021 and 42.6 per cent in February 2020
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The central bank has also said that the only thing missing is private sector investment as even bank credit has started to pick up steam. (Representative image)
MUMBAI: The RBI’s state of the economy note has said that there is economic recovery with drop in Covid cases and “all engines of aggregate demand are starting to fire”.
The central bank has also said that the only thing missing is private sector investment as even bank credit has started to pick up steam.
“Economic activity is gaining steam as Covid incidence recedes and the ongoing vaccine rollout releases pent-up optimism,” the RBI said.
India’s economic health in the last few weeks has been the talk of the town with the Reserve Bank of India implying in its November monthly bulletin that India has entered a “technical recession” in.