The time has come for India to embark on a new trajectory of sustainable and inclusive growth, with immunization drives gaining momentum and reducing Covid-19 mortality, said an article by the Reserve Bank on ‘State of the Economy’. has been The article, authored by a team of RBI officials led by Deputy Governor MD Patra, said the overall supply position is improving on the back of a strong performance in kharif agricultural production and revival of manufacturing and services, while strengthening domestic demand. is coming. “Amid an accentuation of global risks, the Indian economy is picking up steam, though recovery has been uneven and breaking through a soft patch. Steps in vaccination, reduction in new cases/mortality and normalization of dynamics rebuild confidence happened,” it noted. . It added that lower-than-expected food prices helped bring headline inflation closer to the Reserve Bank’s target. Noting that India will need policies that channel energy to reap the demographic dividend, the article states, “We can do it – citing India’s strong fundamentals of recent outlook upgrades”. reduced risks of negative feedback between the real economy and the financial system, higher capital cushions and adequate liquidity.” It said, “The time is right to set India on a new path of sustainable and inclusive growth. After all, October marks the end and beginning of things, a symphony of permanence and change.” However, it made a disclaimer that the views expressed in the article are those of the authors and do not necessarily represent the views of the Reserve Bank of India (RBI).
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