India’s economy seen more resilient to external shocks: RBI

India’s economy is turning out to be more resilient to external shocks over time, as per the State of the Economy article, put together by RBI officials in the apex bank’s latest monthly bulletin. The monetary and regulatory measures undertaken so far this fiscal should pave the way for a virtuous cycle of higher private investment, productivity and growth, leading to long-term economic resilience. 

The officials said October has seen a further pick-up in demand conditions, pointing towards a resilient growth outlook. The growth, backed by strong services exports, remittances receipts and oil prices becoming less detrimental to the current account sustainability, comes amid global trade policy uncertainties and external sector headwinds, they added. The officials opined that demand conditions exhibited signs of improvement with the revival of urban demand and continued strength in rural demand, as per a report.

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