Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

RBI retains growth at 9.5%, advocates continued support to nurture nascent recovery

PTI
Updated: August 6th, 2021, 15:18 IST
in Business, Coronavirus
0
Shaktikanta Das

RBI Governor Shaktikanta Das PTI file photo

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Mumbai: Reserve Bank Governor Shaktikanta Das made a strong case Friday for continued fiscal, monetary and sectoral support to nurture the ‘nascent and hesitant’ economic recovery while retaining the growth projection for the current fiscal at 9.5 per cent. While unveiling the bi-monthly monetary policy review, Shaktikanta Das said that domestic economic activity has started normalising with the ebbing of the second wave of the coronavirus pandemic and the phased reopening of the economy.

High-frequency indicators suggest that consumption (both private and government), investment and external demand are all on the path of regaining traction, Das said. However, he added that at this stage ‘continued policy support from all sides – fiscal, monetary and sectoral – is required to nurture the nascent and hesitant recovery’.

Also Read

Scott Bessent

US expects India, allies’ backing on China’s rare earth curbs: US Treasury Secretary

1 hour ago
Pic- Reuters

Hyundai Motor India to invest Rs 45,000 crore by FY30

3 hours ago

The governor said the conduct of monetary policy during the pandemic has been geared to maintain congenial financial conditions that nurture and rejuvenate growth.  Taking various factors into consideration, the RBI decided to retain the GDP growth forecast for the current financial year at 9.5 per cent in 2021-22. It is expected to at 21.4 per cent in first quarter of the fiscal; 7.3 per cent in second quarter; 6.3 per cent in third and 6.1 per cent in the January-March period. Real GDP growth for first quarter of the next fiscal beginning April 1, 2022, is projected at 17.2 per cent.

Das further said after the onset of the pandemic, the central bank has announced more than 100 measures to mitigate its impact.

“Going forward, our endeavour would be to continue the monitoring of measures which are still in operation to ensure that the benefit of all our measures percolate down to targeted stakeholders,” Shaktikanta Das said.

The RBI governor stressed that the efficacy of RBI’s monetary policy measures and actions is reflected in the significant improvement in transmission during the current easing cycle.

The reduction in repo rate by 250 basis points since February 2019 has resulted in a cumulative decline by 217 basis points in the weighted average lending rate (WALR) on fresh rupee loans. The low interest rate regime, he added has also helped the household sector reduce the burden of loan servicing.

“The significant reduction in interest rates on personal housing loans and loans to commercial real estate sector augurs well for the economy, as these sectors have extensive backward and forward linkages are employment intensive,” Das pointed out.

 

Tags: CoronavirusGDPinterestLoanspandemicRBIShaktikanta Das
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019

Archives

Editorial

Historic Deal

Trump, Netanyahu
October 15, 2025

There is no doubt the way fighting in Gaza was ended and a peace process set in motion in the...

Read moreDetails

Peacemakers

Trump-Maria
October 14, 2025

There is rejoicing as peace has started to return to the heart of the war-ravaged Middle East, and a ceasefire...

Read moreDetails

Afghanistan As Friend

Afghanistan
October 13, 2025

Some politicians and feminists are screaming that it is outrageous that the Taliban could display its misogyny on Indian soil...

Read moreDetails

Stalled Promise

October 12, 2025

Thirty five years ago, India chose to go down two paths, on both of which it remains. The first path...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST