Vikrant Shekhawat : Jul 16, 2021, 07:02 AM
The Reserve Bank (RBI) has once again released estimates regarding the Indian economy. Now Reserve Bank Governor Shaktikanta Das says that the way the economy is seeing a boom. There is no reason to downgrade the GDP growth forecast from that.In fact, during the monetary policy in April, RBI had released an estimate of the GDP growth rate to be 10.5 percent in the current financial year. But in view of the impact of the second wave of Corona, last month the RBI reduced the GDP growth forecast for the current current financial year from 10.5 percent to 9.5 percent.
GDP growth confidenceBut on Thursday, RBI Governor Shaktikanta Das said that there is no reason for reducing the GDP growth estimate for now. He has again assured of 10.5 per cent GDP growth rate in the current financial year. He said that now there is no reason behind reducing it. Shaktikanta Das said this during the ET Financial Inclusion Summit.
Big changes in the banking systemThe RBI Governor said that India has come a long way in facilitating the access of bank services to the end consumer and increasing the use of financial products. Services like IMPS and UPI have made digital payments easier. RBI has projected the GDP growth rate to be 10.5 percent in the current financial year. He said that the boom in the economy is an important reason behind this.Shaktikanta Das said that the effect of the second wave of Corona has now gradually subsided. To reduce the impact of Corona, many steps have been taken on the economy front. Apart from this, the rapid improvement in the vaccination program has shown signs of a sharp recovery in the economy.Apart from this, a report by rating agency Icra said that the pace of economic recovery has increased due to the opening of the lockdown imposed due to the second wave of Corona. Icra believes that economic growth can be in double digits during April-June.
GDP growth confidenceBut on Thursday, RBI Governor Shaktikanta Das said that there is no reason for reducing the GDP growth estimate for now. He has again assured of 10.5 per cent GDP growth rate in the current financial year. He said that now there is no reason behind reducing it. Shaktikanta Das said this during the ET Financial Inclusion Summit.
Big changes in the banking systemThe RBI Governor said that India has come a long way in facilitating the access of bank services to the end consumer and increasing the use of financial products. Services like IMPS and UPI have made digital payments easier. RBI has projected the GDP growth rate to be 10.5 percent in the current financial year. He said that the boom in the economy is an important reason behind this.Shaktikanta Das said that the effect of the second wave of Corona has now gradually subsided. To reduce the impact of Corona, many steps have been taken on the economy front. Apart from this, the rapid improvement in the vaccination program has shown signs of a sharp recovery in the economy.Apart from this, a report by rating agency Icra said that the pace of economic recovery has increased due to the opening of the lockdown imposed due to the second wave of Corona. Icra believes that economic growth can be in double digits during April-June.