RBI on Covid-19: From inflation over growth to inflation and growth
RBI has been possibly the first official acceptance that growth rates will slip to negative in this financial year. Das stopped short of giving an estimate of the degrowth of the Indian economy, but said that GDP growth will be negative
NEW DELHI : If there is one entity that has earned the respect of a very cynical and hard-to-please group of people – stock and bond dealers, people in the financial sector and economists – it is the Reserve Bank of India (RBI) under the governorship of Shantikata Das. The confident body language, the measured speech and the emphatic statements about doing what it takes to beat the economy back into shape are in stark contrast to a fumbling finance minister – Nirmala Sitharaman – whose body language largely based on unfamiliarity with financial market terms and concepts, does not instill the same sense of comfort and confidence that Das does.