India's GDP growth rate to remain positive in third quarter of current financial year: RBI Bulletin

New Delhi, 25 December 2020 Friday

A Reserve Bank of India (RBI) bulletin claims that India's economy is expected to remain positive in the third quarter of the current financial year. The percentage will remain the same.

But even though positive growth has been encouraging in times of the Corona crisis, the bulletin says the economy is seeing a faster and better recovery than expected.

The role of two factors behind the increase in GDP growth rate is considered to be the most important. The first is the decline in cases of Corona transition from mid-September and the second is the rise in investment and demand.

The shift from consumption expenditure to Fox investment expenditure by the self-reliant Prime Minister of India's poor welfare package, the article said, has increased demand for the product in times of epidemics, but now investment has also picked up.

The article said that the fear of a second wave of coronary epidemics is growing among the people, which has created a good environment for macroeconomic policies and the economy is seeing a recovery.

It is worth mentioning here that there is no official statement of the Reserve Bank, the State of Economy article was written by the officials of the Reserve Bank (RBI), the article clearly states that it is the author's own opinion, and it should not be associated with the RBI.

The economy contracted by 23.9 per cent in the first quarter of the financial year, and 7.5 per cent in the second quarter.