Mumbai: High frequency indicators that are optimistic and consumer confidence shows that the Indian economy continues to advance, emerging from a pandemic shackle, said an article about the economic situation published in the RBI bulletin on Wednesday.
Recovery was pioneered by Uptick in private investment until November-December in addition to high bank loans and capex turnover from the government (central and state) sectors.
In conjunction, the employment situation has enlightened, said the article written by RBI officials.
“The prospect remains optimistic, even though the worries are rolling around the spread of the new Omicron variant appears,” he added.
The next article said the indicator of the aggregate demand point for sustainable recovery in all fields, but with signs of sequential moderation.
Even as the E-Way of GST Bills a generation remained above the pre-pandemic level, there were several sequential decreases in November due to fatigue the celebration season in the first half of November.
However, the generation of e-way bills has increased again in December (until 12 December) posted a sharp month-to-month growth.
“The end of the celebration season is reflected in the momentum of growth of petroleum consumption, led by a decrease in diesel even when gasoline consumption remains above the pandemic and fuel turbine level recorded a stable pick-up in November 2021,” said the article.
RBI clarified that the views stated in the article were from the author and did not always represent the view of The Reserve Bank of India.
The authors further said the global supply chain and logistical disorders continue to burden the domestic car sector.
Hottleneck supply thwartes sales of motorized vehicle celebrations.
The global economy remains a hostage to increase uncertainty, with Omicron triggering fresh detention steps.
The Indian economy bounces back firmly in the second quarter of 2021-22, with GDP beyond the pre-pandemic level, and inflation is widely aligning with the target.
The host of the incoming high frequency indicator looks optimistic and consumer confidence gradually returns.
The condition of aggregate demand shows sustainable recovery, though, with some signs of sequential moderation, he said.
“The Indian economy continues to advance, emerging from pandemic shackles,” said the article.
According to him, the ongoing revival was driven by a factor meeting.
High frequency indicators, including, sales of passenger vehicles, cargo movements, e-way bills, and PMI indices.
In the future, the authors said the emergence of the Omicron strain had increased uncertainty in the global macroeconomic environment, accelerating the risk of global trade with the resumption of travel restrictions / quarantine rules in the main port and airport.
‘The Indian economy continues to move forward’
