RBI Governor Shaktikanta Das says fiscal authorities are ready to limit fallout on ongoing recovery, but focus should be on containing virus and boosting economic revival.
RBI Governor Shaktikanta Das says the MPC is of the view that it is important to revive growth on a durable basis while ensuring inflation remains within the targeted levels.
Barring a second wave, India stands poised to shrug off the deathly grip of the virus and renew its tryst with its pre-Covid growth trajectory, says RBI Governor Das.
RBI expects headline inflation to remain elevated in the second quarter of 2020-21. It also sees real GDP shrinking in the first half as well as the full year.
CPI-based inflation has remained over 6% for last 2 quarters. With NPAs also expected to rise significantly, RBI could focus on financial stability this time.
In his statement, RBI governor Shaktikanta Das said inflation will remain high in the first half of the fiscal, but will stay below the 4% target later.
It has also decided to enhance the fertiliser subsidy for farmers, and reduce import duty on some raw materials. ‘It is always people first for us!’ tweets prime minister.
In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.
That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.