scorecardresearch
Follow Us:
Monday, January 18, 2021

RBI Governor Shaktikanta Das: Recovery not steady and continuous yet

Members of the RBI’s Monetary Policy Committee raised concerns on the status of some of the sub-sectors and aspects of the economy while stating that it might take at least a year to reach the earlier peak GDP level and more to recover lost growth.

By: ENS Economic Bureau | New Delhi | Updated: December 19, 2020 2:45:49 am

Reserve Bank of India (RBI) Governor Shaktikanta Das has said the improvement in the economy is “not steady and continuous yet” though the recovery is multi-speed as more sectors are showing an upturn.

Members of the RBI’s Monetary Policy Committee raised concerns on the status of some of the sub-sectors and aspects of the economy while stating that it might take at least a year to reach the earlier peak GDP level and more to recover lost growth.

Explained

Signals caution

Members of the RBI’s Monetary Policy Committee raised concerns on the status of some of the sub-sectors and aspects of the economy while stating that it might take at least a year to reach the earlier peak GDP level and more to recover lost growth.

According to the minutes of the MPC meeting on December 7, Das said, “Over the last two months it has become increasingly clear that the recovery underway is faster than what was anticipated at the time of the October policy, although it must also be noted that overall activity is still below its level a year ago.” Das said investment demand in the economy is still to gain traction even as the transmission of policy rate actions has been sharper and quicker.

As per MPC Member Shashanka Bhide, despite the overall improvement in the level of economic activities, there are concerns on the status of some of the sub-sectors and aspects of the economy.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement