economy

Numerous indicators suggest economic recovery is now taking hold: RBI governor

Numerous indicators suggest economic recovery is now taking hold: RBI governor

Numerous high-frequency indicators suggest that economic recovery is now taking hold, said Reserve Bank of India (RBI) governor Shaktikanta Das on Tuesday. While the economy is picking up, it is yet to cover a lot of ground before it gets broad-based and well-entrenched, the RBI governor said. India has potential to grow at a reasonably high pace in post-pandemic scenario, Das said, while adding that the country has emerged as a top performer in startup landscape. The RBIs monthly bulletin released yesterday has also talked about Indias economic recovery, saying overall Indias monetary and credit conditions stay conducive for a durable economic recovery to take root. 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. Gross non-performing assets (NPAs) of banks will further improved in September 2021 from June level, the RBI Governor expressed confidence. There are signs that consumption demand, triggered by the festive season, is making a strong comeback. This should encourage firms to expand capacity and boost employment and investment amid congenial financial conditions, Das went on to say. Download.

economy 2021-11-16 Livemint