INSUBCONTINENT EXCLUSIVE:
RBI has said that economic recovery is on a steady pathMumbai: Reserve Bank of India (RBI) has said that the economic situation in the
nation emerges from the third wave of the COVID-19 pandemic."The union budget 2022-23 and the monetary policy announcement of February 10,
2022, have set the tone for a durable and broad-based revival," said the bulletin.The renewed emphasis on public investment in the Budget
through infrastructure development is expected to crowd-in private investment and strengthen job creation and demand in 2022-23, it
said."Fundamental to the infrastructure boost is the GatiShakti National Master Plan, which aims to achieve inclusive growth through
multi-modal connectivity and logistics efficiency," the report further said.Observing that domestic macroeconomic conditions are striking a
path that is diverging from global developments, the article said, "in India, the recovery in economic activity is gaining strength and
traction as it emerges from the third wave.It further said that today, the global economy stands at an inflection point
Inflation has become entrenched across economies, owing to a spike in commodity prices and persistence of supply chain bottlenecks.
