India’s overall monetary and credit conditions remain conducive for a durable economic recovery to take root, officials of the Reserve Bank of India wrote in an article in its monthly bulletin released on Monday.
“Mobility is rapidly improving, the job market is recouping and overall economic activity is on the cusp of a strengthening revival,” they wrote in the article on the ‘State of the Economy’.
The global economic outlook remained shrouded in uncertainty with headwinds from multiple fronts at a time when many economies were struggling with nascent recoveries. “In India, the recovery gained strength though the speed and pace of improvement remain uneven across different sectors of the economy. Indicators of aggregate demand posit a brighter near-term outlook than before.”
They said the domestic situation had brightened following a considerable dip in the level of new COVID-19 infections and the rapid progress of vaccinations.
