RBI continues to mitigate impact of COVID-19 on economy, ensuring inflation remains within target: Deputy Governor
Highlight
- RBI is committed to revive and sustain growth on a sustainable basis, said Deputy Governor
- We are poised to be one of the fastest growing economies in the world: Michael D’Patra
- RBI continuously evaluating highly volatile and uncertain situations: Deputy Governor Michael D Patra
Reserve Bank of India (RBI) Deputy Governor Michael D Patra on Friday informed that RBI is committed to revive and sustain growth on a sustainable basis and continues to mitigate the COVID-19 impact on the economy while ensuring that inflation remains within the target.
Delivering a virtual keynote address on ‘RBI’s Pandemic Response: Out of Oblivion’ at CD Deshmukh Memorial Lecture, he said, “We are on course to become one of the fastest growing economies of the world, but there is still a long way to go “
He said, “Private consumption and investment are still in progress. RBI is committed to revive and sustain growth on a sustainable basis and continue to mitigate the COVID impact on the economy while ensuring that inflation remains within the target.” Keeps,” he said.
Patra further said that RBI is continuously evaluating highly volatile and uncertain situations and is always ready to protect the economy from shocks. He said that the RBI has committed all its instruments for this purpose by using traditional measures and creating new ones, as revealed by the experience of the pandemic.
Patra said, “Only time will tell whether India has got it right or not, but so far, this approach has served us well and helped us chart a future that is different from the world.”
Read also | IMF slashes India’s economy growth forecast to 9 percent in FY 2012
,