Monetary policy committee of the rbi, Bank

India's economic growth recovery has lost some momentum due to the Russia-Ukraine conflict and performance in the near future will depend on the reform measures like addressing the supply-side bottlenecks to control inflation and capital spending, the Reserve Bank of India (RBI) said in its annual report for 2021-22 released on Friday."The future path of growth will be conditioned by addressing supply-side bottlenecks, calibrating monetary policy to bring inflation within the target while supporting growth and targeted fiscal policy support to aggregate demand, especially by boosting capital spending," RBI said."Undertaking structural reforms to improve India's medium-term growth potential holds the key to secure sustained, balanced and inclusive growth, especially by helping workers adapt to the after-effects of the pandemic by reskilling and enabling them to adopt new technologies for raising productivity," the central bank noted in the report.However, the central bank said that the Indian economy is witnessing a recovery despite the multiple headwinds in the previous year. "The year gone by brought many challenges, but a recovery is underway in spite of headwinds."The report noted that the escalation of geopolitical tensions into war from late February 2022 has delivered a brutal blow to the world economy, battered as it has been through 2021 by multiple waves of the pandemic, supply chain and logistics disruptions, elevated inflation and bouts of financial market turbulence, triggered by diverging paths of monetary policy normalisation.The global macroeconomic outlook is overcast with the economic costs of the war and sanctions.On the impact of the Russia-Ukraine conflict on India's economy, the RBI said the immediate impact of geopolitical aftershocks is on inflation, with close to three-fourths of the consumer price index at risk.The elevation in international prices of crude, metals, and fertilisers has translated into a terms of trade shock that has widened trade and current account deficits."High-frequency indicators already point to some loss of momentum in the recovery that has been gaining traction from the second quarter of 2021-22, with 86.8 per cent of the adult population fully vaccinated and 3.5 per cent having received booster doses," the RBI said.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Monetary Policy Committee Of The RbiFOLLOW

Monetary policy committee of the rbi, Latest News

New Delhi, June 6 The central bank Reserve Bank of India (RBI) cleared the air by saying that ... ...

New Delhi, June 6 Domestic equity benchmark indices declined during early trade on Monday, weighed mainly by FMCG, ... ...

New Delhi, June 3 Leading crypto exchange Coinbase, which halted payments via unified payments interface (UPI) mode on ... ...

New Delhi, June 2 The Reserve Bank of India has launched the 2021-22 round of its annual survey ... ...

Inflation is likely to come down in the coming months as the government as well as the central bank have taken the required measures to cool down the price rise, Ajay Seth, Secretary, Department of Economic Affairs, said on Monday. ...

Snapping 10 consecutive weeks of decline, India's foreign exchange (forex) reserves rose by USD 4.23 billion to USD 597.509 billion for the week ended May 20, the Reserve Bank of India (RBI) data showed. ...

The Reserve Bank of India (RBI) on Friday said that it is proposing to adopt a graded approach to the introduction of Central Bank Digital Currency (CBDC) in conformity with the objectives of monetary policy, financial stability and efficient operati ...

India's economic growth recovery has lost some momentum due to the Russia-Ukraine conflict and performance in the near future will depend on the reform measures like addressing the supply-side bottlenecks to control inflation and capital spending, th ...