Economic recovery in country is stronger than expected: RBI Governor

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Nov 27, 2020

8:14AM

Economic recovery in country is stronger than expected: RBI Governor

@RBI

Reserve Bank Governor Shaktikanta Das has said that the Indian economy exhibited a stronger than expected pickup in recovery after the first quarter of the current fiscal. Mr Das, however, warned that downside risks to growth continue due to a surge in Covid-19 infections. He was speaking at the annual day event of Foreign Exchange Dealers' Association of India yesterday.

RBI Governor said, even as the growth outlook has improved, we need to be watchful about the sustainability of demand after festivals and a possible reassessment of market expectations surrounding the Covid-19 vaccine.

The sharp rise in Covid cases in eight states, which include key economic and business hubs, has prompted the Ministry of Home Affairs to issue fresh guidelines for states to contain the spread of Coronavirus.

Over the last two months, the government announced two stimulus packages to boost demand in the economy through a slew of incentive schemes.