Record Contraction News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The RBI has little room to use interest rates for achieving policy outcomes

Creating jobs and boosting incomes, along with vaccination, can sustain the economy The national income estimates released by the NSO posit an economy that appears to have found some footing in the January-March quarter before the pandemic’s second wave hit. GDP expanded by 1.6% in the final quarter of the last fiscal, an acceleration from the 0.5% growth in the preceding three-month period, that marginally softened the extent of the full-year’s record contraction to 7.3%. The Centre had earlier projected full-year GDP to contract by 8%. There was a 3.7% growth in fourth-quarter gross va...