Shoring up livelihoods and restoring normalcy in education, workplace is necessary. The central bank is monitoring the situation and will deploy all resources available, said Reserve Bank of India Governor Shaktikanta Das today.
Governor Das was making an unscheduled speech at 10 AM today. Deputy governors MK Jain and MD Patra and other top RBI officials attended the meeting.
He said India has flattened the COVID-19 infection curve in March 2021. “However, new mutants of the virus have emerged. Wide ranging and swift actions are needed against the spread of the second wave. Steps have to be wide-ranging, sequenced and well-timed and there is a need to martial resources and fight COVID-19 again, to return to normalcy and sound health,“ Das said.
Global recovery remains uneven and the outlook remains highly uncertain, clouded with downside risks, Das said.
The global economy is exhibiting incipient signs of recovery supported by fiscal, monetary stimulus. The global outlook is highly uncertain and clouded with risks. World merchandise trade maintained its decent uptrend; CPI inflation is benign in major AEs. Global financial markets regained buoyancy in April on the back of vaccine optimism, he added.