Economic Recovery On Track As Pandemic Third Wave Subsides: Report

RBI has said that economic situation in the country continues to improve and budgetary proposals have set the tone for broad-based economic revival

Reserve Bank of India (RBI) has said that the economic situation in the country continues to improve  and the budgetary proposals outlined by the finance minister have set the tone for a durable and broad-based economic revival.

In its monthly bulletin, which released today, the central bank said that the process of economic revival has begun as the nation emerges from the third wave of the COVID-19 pandemic.

"The union budget 2022-23 and the monetary policy announcement of February 10, 2022, have set the tone for a durable and broad-based revival," said the bulletin.

The renewed emphasis on public investment in the Budget through infrastructure development is expected to crowd-in private investment and strengthen job creation and demand in 2022-23, it said.