RBI Chief convinced economic growth rate would not need ‘downward revision’
According to a PTI report, the RBI chief said, "Our preliminary analysis shows that the growth rate next year, that is, at 10.5 percent, which we had given, would not require a downward revision."
On Thursday, while delivering the inaugurating address at the India Economic Conclave (IEC) 2021, which is currently taking place in Delhi, RBI Governor Shaktikanta Das said that despite an increase in infections in many regions, India's economic recovery is predicted to resume "unabated."
The RBI top boss seemed confident despite the increasing number of positive Covid19 cases across the nation, he remarked, “Though the surge is a matter of concern, vaccines are available, lockdowns are less stringent, and preparations are better than when the pandemic began last year.”
The new wave of infections has led to lockdown in many regions of various states in the country, on the topic of a possible lockdown, Das stated, “(Although) at this point of time, one does not forsee a kind of lockdown that we experienced last year. Last year, it came as a huge shock.”
According to a PTI report, the RBI chief said, "Our preliminary analysis shows that the growth rate next year, that is, at 10.5 percent, which we had given, would not require a downward revision."
The governor reiterated reserve bank's determination to use all its policy instruments to help the economy recover from the pandemic's crippling effects while maintaining price and financial stability.
When asked about the 'V-shaped' growth recovery, he clarified that the RBI never made use an alphabet to denote the economic recovery, instead opted for a number, which is still in use.
Maintaining the banking sector's wellbeing, including a healthy capital base and ethics-driven governance, is also a policy priority, according to the Governor.
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