Mirror Now
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Key takeaways from the annual RBI report | EXPLAINED
Posted
August 27, 2020
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August 27, 2020
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3:04Now PlayingMirror Now's Avni Raja explains the Reserve Bank of India's annual report for 2020 which focuses on the state of our economy right now. The economic impact due to the pandemic situation is being assessed. The report talks about the impact on India's GDP. A contraction in GDP by 4.5% is expected. The IMF projects have been cited. Recoveries have been seen in May and June but re-imposition of lockdown has impacted again.
Next, the demand and consumption impact is also spoken about. The key to demand recoveries is govt consumption. Rural demand is more than urban demand. It also talks about the impact on the fiscal deficit to deteriorate to 7.5% of the GDP. Deep-seated wide-ranging reforms sought by RBI to come out of the lockdown impact.
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