Economy showing sign of stability, but recovery to be gradual: RBI governor Shaktikanta Das
NEW DELHI: RBI (Reserve Bank of India) governor Shaktikanta Das on Wednesday assured the industry that the central bank will take all necessary measures to ensure liquidity in the system and promote economic growth.
Indian economy contracted 23.9 per cent in the first quarter of the current financial year.
Addressing a virtual conference organised by industry body Ficci, Das said that Gross Domestic Product (GDP) data released by the government was a "reflection of the ravages of the Covid-19" and some stabilisation in economic activities in the second quarter of the current fiscal year can be seen.
"High-frequency indicators of agricultural activity, the purchasing managers' index (PMI) for manufacturing and certain private estimates for unemployment point to some stabilisation of economic activity. The contraction in many other sectors is simultaneously easing," the RBI governor said.
"But the recovery is not yet fully entrenched. In some sectors, the optics noticed in June and July appear to have leveled off. By all indications, the recovery is likely to be gradual as efforts towards reopening of the economy are confronted with rising infections," he added.
As per government data, GDP during the April-June quarter contracted 23.9 per cent on account of the strict lockdown imposed by the government towards end of March to check the spread of coronavirus infections.
政府数据显示，由于政府在3月底实施了严格的封锁措施，以遏制疫情的蔓延，4 - 6月当季国内生产总值(GDP)收缩了23.9%。
In his address, Das spoke about the initiatives taken by the central bank to ease the liquidity situation and make available funds to the businesses impacted by the pandemic and subsequent lockdowns.
The Governor also assured the industry that "RBI is battle ready... whatever measures are required will be taken by the RBI" to help the industry and businesses to come out of the Covid-19-induced crisis.
Further, he asked businesses to capitalise on the new opportunities created by the pandemic at the global level.
译文来源：三泰虎 http://www.santaihu.com/p/50836.html 译者：Jessica.Wu
I have zero faith in Modi government's economic team
Shaktikanta is cracking a joke!!!!. When the Jumla people are still there at the center, nothing can be predicted!!!.
there is a limit for everything. u can fool n gain others' trust only once. plz dont give a second try. we r not that foolish. jai hind.
Sir, please change the base year to 2020. You can proudly announce 100% GDP growth next year.
Gradual? When 2024? After Feku is kicked out from power? Yes then i agree. As long as feku is in power our economy will remain in tatters.
Is it upwards or downwards??????
Indian economy contracted 23.9 per cent in the first quarter but RBI governor says economy shows sign of stability ! Hope he is stable ! Previous 3 governors were Ph.D (Economics) qualified whereas current governor is MA (History) !
sitting on our chest for last 5 months. japanese PM resigned but our rulers are so shameless
we all shouldn't expect any good work like taking steps for industrial reforms from our under graduate Liar PM modi & MA in history RBI governer.All the steps taken by the government are of no use at all. The country's GDP in first quarter of this fiscal year was -23.9% & our governor is misleading the people that economy is showing signs of stability.
What stability has he seen? 2 crore people losing jobs? Losing jobs is the only stable thing today
India must learn from a lesson from Bangladesh as their economy far better. It is time for Indian PM, Finance minister and RBI governor to go to Bangladesh and take lessons from them in order recover the economy faster.
This is what happens when you put a historian in charge of economics.. BJP has no clue of running a country..
As a result, RBI is making a new history in economics !
one more puppet, fit for nothing, he neither economist and expert....MA Hstory shameless candidate for RBI Governor....there is no hope left in india.with saffron goons born to destroy india..feku has to resign for achee din
Modi government Finance Minster and RBI governor should resign and get out , now nobody have any trust on them.
He looks like a secretary not RBI guv.
In independent India, Dr. MMS was the only economist prime minister we ever had. He saved India twice in 1991 and 2008.
Gradual means? After our death??
The RBI governor is lying. the GDP is at -23% and he is fooling everyone that the indian economy is recovering. to get back the economy on track will take years. Modiji and his team are like clowns in the circus and no body can trust them and what did they do during these 6 years nothing but ruined the economy and destroyed the secular farbric of this great country.
When will economy recover? After all of us die??