Chennai: Reserve Bank of India Governor Shaktikanta Das has said the country’s economic recovery is likely to be gradual as the rising infections continue to pose a risk.
Speaking at the FICCI National Executive Committee Meeting, he said that the economic recovery is not fully entrenched. He added that the GDP data for the first quarter (Q1) was a telling reflection of how COVID-19 affected the economy.
“The recovery is, however, not yet fully entrenched and more over in some sectors the optics which was noticed in June and July, they appear to have levelled off… by all indications, the recovery is likely to be gradual as efforts towards reopening of the economy are confronted with increasing infections,” he added.
He also said that the Indian central bank stands battle-ready to take whatever steps that are needed to be taken for the economy.