Shaktikanta Das Coronavirus India economy Government crisis Shaktikanta Das Coronavirus India

RBI sees gradual revival as covid cases increase

RBI) governor Shaktikanta Das said the country’s economic recovery will be gradual because of the unabated rise of coronavirus cases, but come what may, the central bank is “battle-ready" to take all steps necessary to restore growth.The “efforts towards reopening the economy are confronted with rising infections", Das said at a public event on Wednesday. “High-frequency indicators of agricultural activity, the purchasing managers’ index (PMI) for manufacturing and private estimates for unemployment point to some stabilization of economic activity in the second quarter, while contractions in several sectors are also easing," he said, adding “India’s central bank stands battle-ready to take whatever steps are needed to be taken for the.

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