RBI has said that economic recovery is on a steady path
Mumbai:
The Reserve Bank of India (RBI) says the economic situation in the country continues to improve and the budget proposals put forward by the Finance Minister have set the tone for a lasting economic recovery. and on a large scale.
In its monthly bulletin released today, the central bank said that the economic recovery has begun as the country emerges from the third wave of the COVID-19 pandemic.
The union budget 2022-23, and the February 10, 2022 monetary policy announcement, set the tone for a lasting and broad-based renaissance.
The new emphasis on public investment in the Budget through infrastructure development is expected to attract private investment and boost job creation and demand by 2022-23, it said.
The basis of the infrastructure push is the GatiShakti National Master Plan, which aims to achieve inclusive growth through multimodal connectivity and logistical efficiency, the report adds.
Commenting that domestic macroeconomic conditions are moving in a different direction from global developments, the article said, “in India, the recovery in economic activity is gaining strength and momentum.” pull as it emerges from the third wave.
It added that today, the global economy is standing at an inflection point. Inflation has become widespread across economies, due to spikes in commodity prices and the existence of supply chain bottlenecks.
