Underlying Economic Activity Remains Strong, But External Sector May 'Dent' Growth: RBI Governor
NDTV
The Indian financial sector remains resilient and is much better placed, Shaktikanta Das said, adding that both the regulators and the financial sector players deserve credit for this achievement.
Reserve Bank Governor Shaktikanta Das today said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy.
Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Shaktikanta Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box".
It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
Earlier this month, the RBI revised down its growth estimate for FY23 to 6.8 per cent from the earlier 7 per cent.
