Economy can recover by Q3, a quarter earlier than expected: RBI study

With increasing demand, and contraction in exports, the trade deficit widened to $8.8 billion in October - the highest in the current fiscal year.

Topics
Indian Economy | Reserve Bank of India | Economic recovery

Anup Roy  |  Mumbai 

The Indian economy may have been badly hit by the Covid-19 pandemic, but the incoming data in October have “brightened the near-term outlook”. If the momentum is maintained, the economy can turn around by the third quarter - a quarter earlier than expected - according to an assessment by several Reserve Bank of India (RBI) staff, including Deputy Governor Michael Patra.

Starting the November issue of the monthly bulletin, the RBI will be presenting its assessment on the state of the economy every month. The RBI staff calculated that after a steep decline of 23.9 per ...

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First Published: Wed, November 11 2020. 22:34 IST
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