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MPC minutes: COVID spike is biggest challenge to India's recovery, says Guv Das

India city Mumbai covid-19 economy infection
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Mumbai: A steep rise in COVID-19 infections across the country is the single biggest challenge to economic recovery, Reserve Bank of India Governor Shaktikanta Das wrote in his monetary policy committee (MPC) meeting minutes released on Thursday.The MPC kept its key interest rate at a record low of 4% earlier this month and said monetary policy would remain accommodative until the prospects of a sustained recovery were well secured.All six members highlighted the increased risks to economic recovery from the recent steep rise in coronavirus infections and said monetary policy must continue to support growth."Rapidly rising cases of COVID-19 is the single biggest challenge to ongoing recovery in the Indian economy.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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