Quick Telecast
Expect News First

Indian economy shows strong signs of recovery : The Tribune India

0 63


Tribune News Service

New Delhi, December 7

The RBI will, after a long time, get more elbow room while announcing its monetary policy on Wednesday as 19 out of 22 high-frequency economic indicators are showing promise while the threat of the Omicron variant seems to be receding.

The 19 indicators have been higher over the past three months as compared to their pre-pandemic levels in 2019. Among the 19, there are some indicators whose recovery is way beyond 100%, such as e-way bills by volume, merchandise exports, coal production and rail freight traffic. “This suggests that not only is the recovery complete, economic growth is now gathering momentum over the pre-pandemic levels of output,” said government sources.

These trends have been validated by estimates of GDP released on November 30 for the second quarter of the current fiscal.

The RBI will present its fourth bi-monthly monetary policy on Wednesday and is expected to keep repo and reverse repo rate unchanged, keeping implications of the Omicron variant in view. Last year, two rate cuts had reduced bank interest rates to a record low of 4%. Since then, rates have been unchanged.

However, there are challenges to be tackled by the RBI such as surplus liquidity in the system, elevated bond yields and uneven credit offtake.

RBI monetary policy today

The RBI will present its fourth bi-monthly monetary policy on Wednesday and is expected to keep repo and reverse repo rate unchanged, keeping implications of the Omicron variant in view




Tribune News Service

New Delhi, December 7

The RBI will, after a long time, get more elbow room while announcing its monetary policy on Wednesday as 19 out of 22 high-frequency economic indicators are showing promise while the threat of the Omicron variant seems to be receding.

The 19 indicators have been higher over the past three months as compared to their pre-pandemic levels in 2019. Among the 19, there are some indicators whose recovery is way beyond 100%, such as e-way bills by volume, merchandise exports, coal production and rail freight traffic. “This suggests that not only is the recovery complete, economic growth is now gathering momentum over the pre-pandemic levels of output,” said government sources.

These trends have been validated by estimates of GDP released on November 30 for the second quarter of the current fiscal.

The RBI will present its fourth bi-monthly monetary policy on Wednesday and is expected to keep repo and reverse repo rate unchanged, keeping implications of the Omicron variant in view. Last year, two rate cuts had reduced bank interest rates to a record low of 4%. Since then, rates have been unchanged.

However, there are challenges to be tackled by the RBI such as surplus liquidity in the system, elevated bond yields and uneven credit offtake.

RBI monetary policy today

The RBI will present its fourth bi-monthly monetary policy on Wednesday and is expected to keep repo and reverse repo rate unchanged, keeping implications of the Omicron variant in view

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Quick Telecast is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment
Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

buy kamagra buy kamagra online