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Uncertainty Over Indian Economy, Tough To Predict Future: RBI

by Rahul Gautam Oct 29, 2020 • 06:11 PM Views 389

Commenting on the slowdown in the Indian economy, the Reserve Bank of India says that the time ahead is full of uncertainties. The RBI's monetary policy for the month of October said that the unprecedented 23.9% decline in GDP and domestic economic activity in the first quarter of the current financial year has been severely affected by the pandemic. The RBI says that increased wages under the Prime Minister's Garib Kalyan Rozgar Yojana and MGNREGA are strengthening demand in rural areas but demand in urban areas remains weak