Tag: growth impulses

Reserve Bank Governor Shaktikanta Das yesterday(10th Nov.2021) expressed confidence in the economy clipping at the projected 9.5 percent this fiscal as per the growth impulses and the strong fast-moving indicators. Giving all the credit for the faster-than-expected recovery of the economy to the government, Das said the central bank has only been supporting the government in reviving the economy ravaged by the pandemic. Citing a slew of measures the government has taken since the pandemic struck in March 2020, the governor specifically mentioned tax cuts on fuels, tax resolution for the telecom sector, annulling of the retro tax legislation, sale of Air India, plans to sell some of the public sector banks and PLI scheme as the major reforms and growth-drivers bearing fruits now. Read more

RBI governor Shaktikanta Das in an interview with TOI said that savers can look at various small savings schemes for better returns while asserting that inflation management remains a top priority. He said equity investors must be judicious and not get carried away by short-term trends. Growth impulses are gradually and steadily getting broad-based. The high-frequency indicators such as steel consumption, PMI for manufacturing and services are expanding, GST collections and e-way bills are showing improvement. Earlier, there was an impression that it was due to pent-up and festival demand. But now, it is genuine demand that is visible. The vaccination drive is giving greater confidence to consumers, so the demand is expected to sustain. The only downside risk is the recent spike in the number of Covid cases in certain parts of the country. With daily vaccination numbers going up, we should be able to contain a further spike. Read more