May 22, 2018, 11:20 am IST
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Indian Economy continue on Growth trajectory: RBI

Indian Economy continue on Growth trajectory: RBI

 May 09, 2018

At the time when Indian Economy is passing through the turmoil of megabank scams, Central Bank on Tuesday claimed that Indian Economy continues on the Growth trajectory though constant constraints are coming from food inflation.

This was stated by the Reserve Bank of India Executive Director, Dr. Michael Debabrata Patra, an expert in the area of Financial Stability speaking on the theme “Monetary Policy in India – Recent Challenges” organized by Department of Economics and Economic Association of Himachal Pradesh (EAHP) at Himachal Pradesh University in Shimla.

Director RBI also said Central Bank is working overtime to keep the inflation within the targeted rate of four percent. Putting light on the recent challenges faced by the economy Dr Patra emphasised that major concerns of central bank is related to inflation and that escalating from the food group. Dr. Patra revealed that inflation attributed to food and its supplements need to be regulated in a manner so that overall growth of economy confines to the required goal of 4 per cent targeted inflation.

He further said that India has overtaken China and it has emerged as the third powerful economy in the World. He said that the International Monetary Fund (IMF) has turned Indian Economy as largest one with the regulated Gross Domestic Product (GDP) and fastest growing economy. 

During the programme, an elaborate presentation was jointly made by a seven members high-level RBI team. including Dr. Janak Raj, Principal Advisor, along with Indranil Bhatacharya, Director,  A T George, Director, Dr. Raj Rajesh, Assistant Director, Dr. Harendra Behera, Assistant Adviser & Ms Jessica Anthony, Research Officer.

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