Indian Economy is pulling out of Covid-19’s impact and recovering at a pace that beats most predictions as per RBI Report. Estimated GDP growth in Q3 is likely to be positive 0.1%.
The manufacturing and services purchasing managers’ index (PMI) at 56.3 and 53.7 respectively in November remain in expansion zone (greater than 50 is positive). High frequency indicators are also showing stability and increase in the number of upticks.
The Monetary Policy Committee (MPC) in December 2020 kept the policy repo rate unchanged at 4 per cent and decided to continue the accommodative stance.
Inflation is a challenge for RBI. CPI inflation rose sharply to 7.3 per cent in September and further to 7.6 per cent in October 2020, higher than target of 4 ± 2.
Acknowledgements:
RBI Bulletin (www.bulletin.rbi.org.in), SEBI (www.sebi.gov.in), NSE (www.nseindia.com), BSE (www.bseindia.com)
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