Key Points
Noting that the global economy is cognisant of the fact that the Indian economy is on the cusp of a long-awaited takeoff, the Reserve Bank of India on Tuesday said that extreme deprivation is set to become extinct...
The central bank in its monthly bulletin noted that external agencies like International Monetary Fund and the World Bank have shown considerable appreciation for the dramatic reduction in poverty seen in recent decades...
"Internationally there is a growing optimism that India is on the cusp of a long-awaited economic takeoff," the central bank said in its State of the Economy article in the bulletin...
"This suggests that gross value added (GVA) by manufacturing would have been muted in the fourth quarter of 2023-24 relative to preceding quarters, weighing in on overall GVA/GDP growth of the economy," RBI said.. Data indicators sow that economic activity in India rebounded in April..
Rural demand for fast moving consumer goods (FMCG) has outpaced urban markets for the first time in at least two years, the bulletin said.. "In the quarter just gone by, FMCG volume growth of 6.5% was driven by rural growth of 7.6 per cent relative to urban growth of 5.7 per cent on the back of robust demand for home and personal care products."..
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