Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said that the Indian economy is well positioned to meet the current challenges.
“The Indian economy remains resilient and is well-established to meet the challenges posed by geopolitical developments,” said Mr. Das while answering a query. Hindu In the post-policy press conference, where did India stand against the global economy. “The banking sector remains resilient and strong. Overall, the micro-economic numbers also look broadly fine,” he said.
He said that despite the depreciation of the Indian rupee, it has so far been one of the better performing currencies in emerging market countries and its peer group in other countries.
“fiscal deficit” [target] What was in last year’s budget has been achieved. Therefore, the overall Indian economy remains in a resilient position. Improvements are accelerating and this is reflected in the sense that capacity utilization has improved. Bank loan disbursement is also picking up. Rural and urban demand are also showing signs of improvement and we stand as it is today.
He said the RBI expects the current account deficit to remain at a stable level and that normal flows will “enable us to meet the financing of the current account deficit”.
Recently, JPMorgan Chase & Co CEO Jamie Dimon reportedly said of the global economic situation that “there’s a storm right down the road coming our way.” And, Telsa CEO Elon Musk talked about his “super bad feeling” about the economy while announcing 10% job cuts at his electric car company.
Mr Das himself observed in April that tectonic changes were taking place after the pandemic and due to geopolitical tensions.