Reserve Bank of India (RBI) Governor Shaktikanta Das said in his address to the Federation of Indian Chambers of Commerce and Industry (FICCI) this morning that economic recovery in India is likely to be gradual. Whatever necessary steps are taken for the economy. The RBI governor was delivering the keynote address at the national executive committee of the industry body.
Official data since Mr. Das’s remarks show that there was a slight decrease in consumer inflation in the country in August, but the central bank’s target limit exceeded 4-6 percent for the fifth consecutive month. Many economists support that the RBI will avoid easing monetary policy in its scheduled, bi-monthly review to be held in October.
The country’s GDP or GDP declined by a record 23.9 per cent in the April-June period, as consumer spending, private investment and exports were imposed in late March to curb the spread of COVID-19. The most strict collapsed during lockdown.
Meanwhile, Chief Economic Advisor Krishnamurthy Subramanian told NDTV in an exclusive interview on 1 September that the coronavirus pandemic has given India an external shock, but that “the worst is behind us” and that the economic recovery is “clearly”