[INDIAN ECONOMIC NEWS] Good morning everyone I am  Rumi Dhar from Kama Group.
Here I have important INDIAN economic news to share with you which is as mentioned
below.

India's economic recovery from COVID-19 is progressing well, with better than expected
growth rates, and the trajectory will continue but persistently high oil prices can play spoilsport,
eminent economist Ashima Goyal said on Sunday.

Goyal, who is also a member of the Monetary Policy Committee (MPC) of the RBI, further said
inflation, which has largely remained within the central bank's tolerance band, was also
showing signs of moderating as supply conditions eased because there was no over-stimulus
unlike in many western countries.

"India's economic recovery from COVID-19 is progressing well, with better than generally
expected growth rates. Higher growth is not just due to a base effect, because Indian growth
in 2021 exceeds that of many countries, which had a worse fall in growth in 2020," she told
PTI in an interview.

According to Goyal, it points to India's continuation of reforms as well as good macroeconomic
policies.

She pointed out that India's steep fall in growth during the first lockdown received a lot of
adverse publicity but IMF's January growth figures for 2020 and 2021 show many countries
to be worse off.

Asia's third-largest economy is projected to grow 8.9 per cent in the fiscal year ending March
31, slower than the previously anticipated 9.2 per cent, according to recent government data.

According to Goyal, the investment and growth slowdown from which the economy suffered
over the last decade was because policy was unable to smooth external shocks.

"At present monetary and fiscal policy has some space to smooth the oil shock in a
coordinated manner," she said, adding that it should be used to sustain the domestic
investment cycle and the resulting job growth.




Read more at:
https://economictimes.indiatimes.com/news/economy/finance/indias-post-pandemic-eco-recovery-progressing-well-high-oil-prices-pose-risks-ashima-goyal/articleshow/90182444.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


KAMA GROUP
New Delhi
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