The Mini Lock Down and Corona Curfew imposed to prevent the second wave of Corona in the country has caused a lot of damage to the country’s economy. There has also been a decrease in the GDP growth of the country. How much Corona has affected the Indian economy can be gauged from the fact that RBI has reduced the growth rate target from 10.5 per cent to 9.5 per cent.
The country’s economy is weakening: Significantly, the country’s economy has faltered due to Corona. Due to the lockdown in most parts of the country, it has adversely affected the economy. The economy is expected to decline by 1 percent due to Corona. However, NITI Aayog has said that there will be a decline in the first quarter. But in the financial year 2022, the economy will grow by 10 to 10.50 percent.
No change in repo rate: RBI has not made any change in repo rate. This is happening for the sixth time in a row that the RBI has not changed the rates. The repo rate remains stable at 4 per cent. Not only this, the reverse repo rate (RRR) has also been kept constant at 3.35 percent. Let us tell you, in view of Corona, RBI has not made any change in the repo rate and reverse repo rate.
Current grow by 9.5 percent in fiscal Jeedeepiः central bank forecasts the current growth in GDP at a rate of 9.5 percent in fiscal 2022. The RBI has reduced the growth rate in view of the crisis arising out of the Corona epidemic. At the same time, according to RBI, inflation can be 5.2 percent in the first quarter of the current financial year, 5.4 percent in the second quarter, 4.7 percent in the third quarter and 5.3 percent in the fourth quarter.
