|
|
|
Aggregate demand gains firmer ground: RBI
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 16 Sep, 2021
Prospects have brightened for India's economy as the impact of second
Covid wave wane and aggregate demand gains firmer ground, the Reserve
Bank of India (RBI) said in its monthly Bulletin for August 2021.
The
central bank noted that IIP and core industries mirrored improvement in
industrial activity and services sector indicators point towards
sustained recovery.
"The trajectory of inflation is shifting down more favourably than anticipated."
"As
pandemic scars heal and supply conditions are restored with
productivity gains, a sustained easing of core inflation can be
expected, which will reinforce the growth-supportive stance of monetary
policy."
Besides, the RBI analysed the divergences in monetary
policy actions between emerging market economies and their
correspondence with underlying macroeconomic performance.
The
analysis showed that countries that have tightened monetary policy have
also grown or have a forecast to grow rapidly, with several of them
being commodity and services exporters benefiting from the boom in
commodity prices and revenge tourism.
"A few EMEs are also beneficiaries of spillovers and trade advantages from better growth prospects in the US."
"Some
of them are the most aggressive rate hikers of 2021 and have registered
a near doubling of net exports in Q2 over Q1; a few of these EMEs
recovered to their pre- pandemic level of output by Q2 itself."
Furthermore,
countries that are on a pause despite medium to high inflation are
those where economic rebound is not as sharp as the decline last year or
compare unfavourably in terms of proportion of the population that is
fully vaccinated.
"There are a few EMEs, which have undertaken
further monetary stimulus or expected to follow suit include countries
where inflation is low, albeit, rising; as also those which had fast
recoveries from the pandemic but growth seems to be stalling, as per
recent high frequency indicators."
|
|
|
|
|
|
|
|
|
|
|
|
|
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 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|