India’s economy is recovering faster: RBI

Mumbai, 25/12: The Reserve Bank of India on Thursday said that India’s recovery from the covid 19 shock is faster than expected. RBI in its  ‘State of the economy’ report stated that there are some obstacles but India’s recovery is on a faster trajectory.

RBI said, “Since the assessment presented in the last month’s Article, more evidence has been turned in to show that the Indian economy is pulling out of COVID-19’s deep abyss and is reflating at a pace that beats most predictions”.

The report also cited India’s GDP which is expected to be in positive in Q3 of 2021. According to the report the economic recovery is because of improving COVID situation in the country.

“India is bending the Covid infection curve: since mid-September, barring localised surges, infections are slanting downwards week after week, and the recovery rate1 is nudging 95 per cent,” said the report.