India's overall economic activity remains strong despite third wave: RBI

RBI bulletin said that most countries witnessed a gradual uptick in consumer confidence after the major slump encountered when the Covid-19 pandemic first hit their shores, though it is yet to return to pre-pandemic levels in most countries.

AgenciesUpdated: Monday, January 17, 2022, 09:24 PM IST
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"Nonetheless, amidst upbeat consumer and business confidence and an uptick in bank credit, aggregate demand conditions stay resilient, while on the supply front, rabi sowing has exceeded last year’s level and the normal acreage.," RBI said. | Photo Credit: PTI

India's overall economic activity remains strong despite facing headwinds from a rapid surge in Omicron infections, the Reserve Bank of India (RBI) said in its bulletin.

"Nonetheless, amidst upbeat consumer and business confidence and an uptick in bank credit, aggregate demand conditions stay resilient, while on the supply front, rabi sowing has exceeded last year’s level and the normal acreage.," RBI said.

RBI bulletin said that most countries witnessed a gradual uptick in consumer confidence after the major slump encountered when the Covid-19 pandemic first hit their shores, though it is yet to return to pre-pandemic levels in most countries.

The recent trends in FDI flows at the global level and across regions/countries suggest that India has generally attracted higher FDI flows and continued to remain among the top attractive destinations for international investors, RBI said.

(With inputs from IANS)

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