In the first monetary policy since Finance Minister Nirmala Sitharaman presented Budget 2021, RBI Governor Shaktikanta Das projected GDP growth of 10.5 per cent for FY 2022.
He said, "GDP growth is projected at 10.5 per cent in 2021-2022 in the range of 26.2 per cent to 8.3 per cent in H1 and 6 per cent in Q3 of the next fiscal."
Former economic secretary said the outlook on growth has improved significantly, with positive growth impulses becoming more broad-based, and the roll out of the vaccination programme in the country auguring well for the end of the pandemic.
The union budget 2021 has provided strong impetus to revival of sectors like health and well being, innovation, and research among others. "This will have a cascading multiplier effect going forward particular to improve investment climate and reinvigorating domestic demand, income and employment," Das added.
"Indian economy is poised to move in only one direction and that is upwards." He added, "It is our strong conviction backed by forecasts that in 2021-2022, we will undo the damage COVID-19 has inflicted on the economy."
Das stated that even during difficult times India has sailed together and will continue to do so.
This was the first monetary policy since Finance Minister Nirmala Sitharaman presented Budget 2021 in the Lok Sabha, amid the Covid-19 pandemic.
