Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday that the economy has seen a boom in the June-July period. The RBI Governor was addressing members of the Federation of Indian Chambers of Commerce and Industry (FICC) at a meeting of the National Executive Committee of the Industry Organization. According to official figures, there has been a marginal decrease in consumer inflation in the country in August, but the central bank has exceeded the target limit of 4-6 percent for the fifth consecutive month in August. Many economists support that the RBI will avoid easing monetary policy in its scheduled, bi-monthly review to be held in October. Meanwhile, the country’s GDP or GDP crashed to a record 23.9 percent in the April-June period, as sanctions hurt the economy, which already reduced demand in key sectors and to prevent the spread of the coronovirus epidemic. She was struggling against weakness.
Here’s what RBI Governor Shaktikanta Das said:
- Visiting in June and July has closed in some areas
- Slow recovery likely
- Liquidity lines opened for financial institutions such as NABARD have flowed to small non-banking financial companies, cooperative banks, other institutions
- RBI is closely monitoring the economic situation, it will work accordingly