While the global economy’s outlook remains uncertain, the recovery in the United States has gained traction, albeit slowly and unevenly.
The Reserve Bank of India (RBI) provided this assessment of the current state of the economy in its November 2024 monthly bulletin.
According to the central bank’s economic bulletin, economic indicators have a brighter near-term outlook than previously predicted. The Rabi season is off to a good start in terms of supply, thanks to a record crop. Kharif harvesting and manufacturing are improving overall operating conditions, while service expansion is accelerating.
Long-term economic growth can be expected under current monetary and credit conditions, according to the report’s findings
The pandemic has had a significant impact on both the domestic and global economies, creating a climate of uncertainty that is reflected in the wide range of growth and inflation forecasts for the coming fiscal year, 2020-21.
Despite the pandemic-induced closures, the economy’s subsequent opening has resulted in a better growth outlook for 2020 and beyond.
