RBI sees economy shrinking 9.5% this fiscal, announces fresh measures to arrest the downtrend

[timmy]

In a grim message for the economy, RBI governor Shaktikanta Das said today at the central bank's monetary policy meet that India's GDP for FY21 is likely to contract 9.5%.

There may be a strong rebound following that, Das added on a note of cautious optimism.

Contraction in economic growth of the size of Q1 is behind us, he said while emphasising that some silver linings are already visible. To drive his point home, he highlighted the uptick in manufacturing sector and energy c ..
 

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[timmy]

 

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