Report cites comparatively tepid growth, contained inflation and low proportion of fully vaccinated population as factors calling for accommodative monetary policy
RBI’s state of the economy report for the month of September 2021 says its economic activity index nowcasts growth for the second quarter (July-September) of 2021-22 at 7.7 per cent. The Monetary Policy Committee, at its meeting last month, had estimated it at 7.3 per cent. It’s a clear sign that the recovery is doing better than expected. In fact, the report points to a host of high frequency indicators both in the industrial and services sectors to underline that…
