Categories: Business

Agriculture is only silver lining for economy, says RBI Governor Shaktikanta Das. Only agriculture will save the country's economy? RBI considered it a ray of hope


Agriculture is only silver lining for economy says RBI Governor Shaktikanta Das

new Delhi. The country's economy has suffered a major setback due to the lockdown imposed by the Corona virus and the Reserve Bank has even said that India's GDP growth could slip below zero this year. All the sectors that run the economy are beaten up and the Reserve Bank of India has only hope from the agriculture sector. Reserve Bank of India Governor Shaktikanta Das said during his press conference on Friday that only the agricultural sector is seeing a ray of hope in India's economy.

Reserve Bank Governor Shaktikanta Das said that there is hope on agriculture as the kharif crop so far this year is 43.5 per cent higher than the previous year and there has been a good yield in the Rabi season as well, due to which the crop procurement can reach a record level is. The Reserve Bank Governor has said that in recent times there has been an increase in the cultivation of Kharif Paddy, Kharif Pulses and Kharif Oilseeds.

Inflation estimates very uncertain: RBI Governor Das

Reserve Bank of India Governor Shaktikanta Das said on Friday that the outlook of inflation is very uncertain due to the outbreak of Kovid-19 epidemic and increased prices of pulses are a matter of concern. He said that import duty needs to be reviewed to bring prices down. He said that the major inflation rate may remain stable in the first half of the financial year and may come down in the second half. According to him, the inflation rate could come down to four percent in the third or fourth quarter of the current financial year. Apart from this, Das said that the government's revenue has been greatly affected due to the impact of economic activities during the epidemic.

This post was published on May 22, 2020 12:32 pm

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