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Shaktikanta Das: Considering the spread of the second wave, there is a need to take broad and quick steps.

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Business Desk, Amar Ujala, New Delhi

Published by: Dimple Alawadhi
Updated Wed, 05 May 2021 10:29 AM IST

abstract

RBI Governor Shaktikanta Das is addressing the media. His address was not scheduled earlier. The second wave of corona virus in the country has created a catastrophic situation.

Reserve Bank of India Governor Shaktikant Das
– फोटो : YouTube: @ Reserve Bank of India

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Detailed

Reserve Bank of India (RBI) Governor Shaktikanta Das is addressing the media. His address was not scheduled earlier. The second wave of corona virus in the country has created a catastrophic situation. On the one hand, where the health system has collapsed, on the other hand people are not getting hurt by black marketing. However, the daily cases of corona have been declining for a few days, which is a sign of relief. But the public is upset with the lockdown imposed in the states as it has a direct impact on their earnings. The country’s economy also needs to take tough steps to get out of this time of crisis. In such a situation, this address of the central bank is very important.

Key things-

  • He said that the RBI is monitoring the situation in Corona. There was a good recovery in the economy after the first wave of Corona. Considering the spread of the second wave of Kovid-19, extensive and quick actions are required. There has been a faster recovery in India than other countries of the world. The Meteorological Department has predicted a normal monsoon this year. A good monsoon is expected to increase demand in rural areas.
  • Consumption has increased during January to March. Power consumption has also increased. Freight of Indian Railways has been increased. PMI peaked at 55.5 in April. CPI has also increased. It was 5.5 percent in March. India’s exports increased significantly in March. According to the figures of the Government of India, it increased rapidly in April. There has been an increase in the prices of pulses, pulses, oilseeds and other essential commodities. This is due to the breakdown of the supply chain due to the corona.

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