“Extremely vulnerable” Indian economic growth needs all possible support: Member of the RBI Monetary Policy Committee Jayanth Varma

According to RBI Monetary Policy Committee (MPC) member Jayanth R. Varma on December 23, private consumption and capital investment have yet to take up, making India’s economic growth currently “very fragile” and in need of all the help, it can get. 

Out of the four economic development engines, Mr. Varma continued, exports and government expenditure kept the Indian economy afloat throughout the pandemic, but other engines must now take over. 

Mr. Varma noted that experts have been waiting for private investment to fill the gap for many years and that worries about potential future growth seem to be discouraging capital investment.

This news was written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.

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