SME Times is powered by   
Search News
Just in:   • Iron Pillar to raise $400 mn to empower Indian tech startups: Report  • Sri Lanka's petrol stocks about to run dry: Minister  • Typhoon Aere forecast to make landfall in Japan  • Big Shanghai developer defaults, deals new blow to ailing Chinese real estate  • Chinese tech firms pledge to ban NFTs, cryptocurrency marketplacesChinese tech firms pledge to ban NFTs, cryptocurrency marketplaces 
Last updated: 30 May, 2022  

RBI.9.Thmb.jpg RBI annual report

RBI.9.jpg
   Top Stories
» 'Time to move from 'Volume' to 'Value' leadership in Pharma market'
» Large borrowers' loan accounts and bad loans decline: RBI
» Kharif 2022: Rice, oil seeds sowing less, pulses, coarse cereals more over 2021
» RBI hits hard on Bitcoin, DeFi, crypto trading platforms
» Import duty on gold increased, may not impact demand
Bikky Khosla | 30 May, 2022

The Reserve Bank of India (RBI) last week released its Annual Report for the year 2021-22, in which the central bank sheds light on several key economic issues, including global economic risks, domestic growth prospects and challenges facing the Indian economy at this juncture. At a time when our economy is reeling under the pressure of global geopolitical tensions, high inflation, adverse weather condition and other issues, the insights provided by the RBI report are worth discussing.

The report points out that while in 2021 the Indian economy was battered by several waves of the Covid-19 pandemic, supply side and logistic related issues, high inflation and negative financial market conditions, from late February 2022 a whole new crisis has reared its head in the form of the Russia-Ukraine war, and as a result, there are challenges abound ahead, though the momentum of economic recovery can broadly be expected to continue through the ongoing financial year.

On GDP front, RBI sticks to its revised growth figures of 7.2 percent while on inflation the central banks views that a lot will depend on the evolving geopolitical situation. The report, despite expecting better days ahead for the agriculture sector, emphasizes on raising farm productivity and adds that revival of economic activity is evident also across other sectors, but this needs to be "assiduously nurtured in order to boost consumer and business confidence and private investment".

Overall, RBI is of the opinion that the Indian economy - like most of the emerging market and developing economies- has been bearing the brunt of the ongoing Russia-Ukraine war, but despite several headwinds, its recovery is still underway, and in order to pave the future path of growth, the Centre must address the supply-side bottlenecks, come out with targeted fiscal support measures, and continue structural reforms while tightening the noose over rising inflation should be the focus of the central bank.

I invite your opinions.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 04 Jul, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» China's forex reserves reach USD 2.85 trillion(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter