Indian economy remains stable despite setbacks: RBI

RBI Governor Shaktikanta Das on Friday said the country’s economy continues to be a ‘symbol’ of stability in the world, despite two unforeseen events and several setbacks with serious far-reaching implications. “Despite wide-ranging volatility and uncertainty, the Indian economy today is a ‘symbol’ of macroeconomic and financial stability in the world,” Das said at a press conference after the announcement of the monetary policy review.

In recent times, the coronavirus pandemic and the Russo-Ukraine war have affected the global economy in a big way. At the same time, the committee has also decided to focus on the withdrawal of the accommodative policy stance with a view to supporting economic growth while also keeping inflation under target.

Das said that inflation has touched the highest level and will now come down. But right now it is at an unacceptably high level.