Worst part of Indian economy appears to be over, says RBI Governor

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New Delhi: The worst part of the economy appears to be over, the Reserve Bank of India (RBI) Governor, Shaktikanta Das, said.

Das said with massive spending announced by the Centre, it is very much hoped that the government will support economic activity and investment. He said from now onwards, the economy is expected to move only in upward direction, the RBI Governor said.

The latest World Economic Outlook report projected a robust 11.5 per cent growth rate for India in 2021 making the country the only major economy in the world to register double-digit growth this year amidst the coronavirus-triggered economic slump.

The Economic Survey for 2020-21 said the economy is set to grow by 11 per cent in the financial year beginning in April, due to vaccine rollout and rebounding consumer demand.

He said that the central bank will continue to aid the market to function smoothly while ensuring that the Centre and states’ borrowing programmes should not face headwinds.

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