Shape of recovery will be V-shaped, says RBI
by Nidhi Bhati
In India, recent shifts in the macroeconomic landscape have brightened the outlook, with GDP in striking distance of attaining positive territory and inflation easing closer to the target, the Reserve Bank of India (RBI) stated in its January 2021 bulletin. India’s real GDP growth is projected to be 0.1 per cent. The central bank believes that if current momentum sustains, policy space could open up to further support. The vaccination drive against the pandemic has brought in a new optimism and indicates V shaped recovery, it said. During the first half of the next fiscal, the RBI stated that the GDP growth will benefit from statistical support and is likely to be mostly consumption-driven.
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