Shaktikanta Das, governor of the Reserve Bank of India, stated that although the underlying economic activity in India is still solid, external factors will cause some “dent” in the economy on Wednesday, December 21, 2022.
The majority of the 70 rapid-moving indicators that the RBI tracks are in the “green box,” according to Mr. Das, who was speaking at the BFSI Insight Summit 2022 hosted by Business Standard.
He added that the issues are in the external sector, which is plagued by a fear of a recession or clear visibility regarding decreasing global economy. The RBI reduced its growth forecast for FY23 from 7% to 6.8% earlier this month.
This news is written by Ms. Pujari Dharani, All India Legal Forum.