RBI Bulletin Says Global Growth To Slow India Has Emerged Stronger From The Pandemic Years Than Initially Thought
RBI Bulletin: RBI has said that since the Corona period, the Indian economy has emerged stronger than forecast. Since the second quarter of the current financial year, the Indian economy is catching up with the pace of growth. The RBI said in its bulletin that while the pace of global economic growth is slowing down, there is even a possibility of entering recession in 2023, amidst all this, the Indian economy is showing strength.
It has been said in the bulletin that the pace of development of the Indian economy will not decrease like the global economy. The pace that he has achieved in 2022-23 is going to be maintained even further. It has been said in the RBI bulletin that in terms of supply, the agriculture sector is doing extremely well. The industry is coming out of the phase of contraction and services are moving forward with their own pace. However, expressing concern on the inflation front, it has been said in the bulletin that the retail inflation rate still remains high and the core inflation is not taking the name of coming down despite the softening of input costs.
According to the RBI Bulletin, the Global Financial Market is now beginning to feel that the Central Bank will not reduce the interest rates. Despite the huge increase in interest rates in 2022, the global economy is expanding rapidly. Apart from the recently released data by Advanced Economy regarding the labor market, this is known from the salary and spending trends of the consumers. Due to this, an increase in inflation is being seen.
RBI said in its bulletin that the strength in the labor market is surprising and a big change is being seen in it. While tech companies are laying off on a large scale, the leisure, hospitality, retail and healthcare sectors are compensating for this by hiring heavily. Due to this wage inflation is increasing. Wage inflation still remains above the pre-Corona era. In such a situation, the possibility of increasing the interest rates of Central Banks cannot be ruled out.
It has been said in the report that in the first fortnight of March 2023, the global financial market has suffered a major setback due to the collapse of banks in America. This is going to have a direct impact on economic activity. RBI Bulletin is issued every month, in which the trends of the domestic economy and the global economy are told. RBI experts give their opinion in this.
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