India’s Monetary and Conducive for durable Economic Recovery to take root, says RBI

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It has been reported that Overall India’s monetary and credit conditions stay conducive for a durable economic recovery to take root, the Reserve Bank of India said in its monthly bulletin released on Monday.

“Mobility is rapidly improving, the job market is recouping and overall economic activity is on the cusp of a strengthening revival,” the RBI said in its chapter highlighting the state of the economy.

Global Economic Outlook

The RBI said the global economic outlook remains shrouded in uncertainty with headwinds from multiple fronts at a time when many economies are struggling with nascent recoveries.

“In India, the recovery gained strength though the speed and pace of improvement remain uneven across different sectors of the economy. Indicators of aggregate demand posit a brighter near-term outlook than before,” the company said.

Domestic Situation

The RBI said the domestic situation has brightened on the back of a considerable dip in the level of new COVID-19 infections and the rapid progress of vaccinations. (Reuters)