• ABOUT US
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS
Sunday, October 26, 2025
  • Login
Economy India
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
No Result
View All Result
Economy India
No Result
View All Result
Home Economy

Omicron a flash flood, not a wave, economic recovery remains strong: RBI

by Economy India
January 17, 2022
Reading Time: 3 mins read
FEATURED IMAGE ECONOMY INDIA 1 1
SHARESHARESHARESHARE

It has been reported that The Omicron wave could be a flash flood, rather than a wave, and the Indian economy could recover its march towards a pre-pandemic level, according to the State of the Economy report of the Reserve Bank of India (RBI) released on Monday.

The infection surge due to Omicron has dented recovery temporarily.

ADVERTISEMENT

“The recovery that has been underway in the Indian economy with the ebbing of the second wave of the pandemic is encountering headwinds from a rapid surge in infections in a third wave marked by the rapid transmissibility of the Omicron variant,” the report said.

Mobility indicators have dropped below the baseline numbers as daily infections surged to over 271,000 on January 13, the highest since mid-May 2021, with active caseload hitting 1.55 million.

However, aggregate demand conditions stayed resilient. The issuance of E-way bills surged to 72 million in December, the second highest in its history, indicating “the likelihood of robust collection of the goods and services tax (GST) in January 2022”, the report said.

Economic Activity

“With a strong pick-up in manufacturing and construction, highway toll collections soared by 16 per cent month-on-month (MoM) in December. Power consumption rose by 4.5 per cent to 110.3 billion units in December,” the report said.

The report, part of RBI’s January bulletin, said, the “overall economic activity in India remains strong, with upbeat consumer and business confidence and upticks in several incoming high frequency indicators.”

Centre for Monitoring Indian Economy (CMIE) data suggested labour participation rate turned up to 40.9 per cent in December, the highest since September 2020. The employment rate also improved by 23 basis points, though the unemployment rate worsened to 7.9 per cent in December from 7.0 per cent a month ago.

The CMIE data indicated that jobs were lost in manufacturing, hotels, tourism, and education, while jobs were created in construction, agriculture and retail trade. Overall, the total number of employed workers surpassed the pre-pandemic level for the first time in 2021 in December.

Export growth was also broad based, and 10 major commodity groups recorded an expansion above their pre-COVID levels.

The inflation, meanwhile rose due to unfavorable base effects between November and December, the RBI observed.

Global Outlook

“Monetary and credit conditions are improving with bank credit picking up in a gradual but sustained manner. India’s digital payment ecosystem is also expanding rapidly,” the report said.

However, the report noted that the global outlook “remains clouded by considerable uncertainty,” as inflation continues to mount across geographies amidst disruptions in production, supply chains and transportation.

“There are indications that supply chain disruptions and shipping costs are slowly easing, although the waning of inflation may take longer. This provides a window of opportunity to focus all energies on accelerating and broadening the global recovery,” the report said. (Business Standard)

CSR Leadership Summit
ADVERTISEMENT
India CSR Awards
ADVERTISEMENT
ESG Professional Network
ADVERTISEMENT
Tags: Centre for Monitoring Indian Economy (CMIE)Goods and Services Tax (GST)OmicronOmicron VariantReserve Bank of India (RBI)
Economy India

Economy India

Economy India is one of the largest media on the Indian economy. It provides updates on economy, business and corporates and allied affairs of the Indian economy. It features news, views, interviews, articles on various subject matters related to the economy and business world.

Related Posts

Pakistan’s Total Public Debt Crosses $286 Billion in FY2024-25, Rising 13% Year-on-Year
Economy

Pakistan’s Total Public Debt Crosses $286 Billion in FY2024-25, Rising 13% Year-on-Year

October 25, 2025
Trump’s 100% Tariff on China Triggers $1.5 Trillion Market Meltdown
Economy

Trump’s 100% Tariff on China Triggers $1.5 Trillion Market Meltdown

October 13, 2025
India’s Trade Deficit Expected to Reach ₹2.5 Lakh Crore in September 2025
Economy

India’s Trade Deficit Expected to Reach ₹2.5 Lakh Crore in September 2025

October 13, 2025
India Extends Export Duty and Tax Refund Scheme (RoDTEP) Until March 2026: A Comprehensive Analysis
Economy

India Extends Export Duty and Tax Refund Scheme (RoDTEP) Until March 2026: A Comprehensive Analysis

September 30, 2025
Trump Slaps 100% Tariff on Branded Drugs from October 1; India, Key Exporter, Faces Uncertainty
Economy

Trump Slaps 100% Tariff on Branded Drugs from October 1; India, Key Exporter, Faces Uncertainty

September 26, 2025
GST 2.0: FMCG Firms Expect Full Price Alignment Within Two Months
Economy

GST 2.0: FMCG Firms Expect Full Price Alignment Within Two Months

September 24, 2025
Next Post
FEATURED IMAGE ECONOMY INDIA 1 1

India's economy set to improve over next 12 months: PwC Annual Global CEO Survey

16th CSR Leadership Summit 2025
ADVERTISEMENT
India CSR Awards
ADVERTISEMENT

LATEST NEWS

UP CM Yogi Adityanath Meets PM Modi in New Delhi, Discusses State’s Development Agenda

Odisha Approves ₹1.46 Lakh Crore Investment Across 33 Projects, Including Adani’s Coal-to-Chemical Venture

Pakistan’s Total Public Debt Crosses $286 Billion in FY2024-25, Rising 13% Year-on-Year

Gold Prices Plunge ₹1,836 in a Day, Silver Falls ₹4,417: 7-Day Decline Wipes Out ₹9,356 from Gold’s Value

LIC Faces Political Storm Over ₹33,000 Crore Investment in Adani Group After US Media Report

HUDCO Signs ₹5,000 Crore MoU with JNPA to Boost Port Infrastructure Development

Aditya Birla Sun Life AMC Posts ₹241 Crore Net Profit in Q2; Margins Remain Stable

Ola CEO Bhavish Aggarwal Booked for Abetment of Suicide: Engineer’s Death Sparks Major Controversy

  • ABOUT US
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS

Copyright © 2024 - Economy India | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories

Copyright © 2024 - Economy India | All Rights Reserved