Key Points
The Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday said that the economic activity in India remains strong, with the agriculture and services sectors doing well, brushing aside the chatter that the Indian economy is slowing...
But the positives outweigh the negatives and, by and large, underlying activities remain strong," Shaktikanta Das, governor of the Reserve Bank of India, said at the BFSI Insight Summit hosted by Business Standard...
The comments come amid poor show of corporate earnings for the second quarter, which have shown signs of weakness in urban consumption, with fast moving consumer goods (FMCG) firms reporting flat or declining volume growth...
However, Das also said that he would not "rush to say the Indian economy is slowing".. Further, India's purchasing managers index for manufacturing and services, which are the high-frequency indicators, slowed in September but bounced back in October...
Earlier, the Monthly Economic Survey for September also suggested that the volume sales of FMCG indicate that rural demand continues to improve, while urban demand has moderated..
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