Worst over for global economy, 'softer recession' likely: RBI governor

There is a need to improve retail access to markets, particularly gilts and derivatives, he says

Bhaskar Dutta Mumbai
Shaktikanta Das. Photo: Kamlesh Pednekar

Das voiced optimism about the prospects of India’s economy

The global economy is expected to contract significantly this year but the worst seems to be behind us, both in terms of growth and inflation, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday.
“On the growth front, projections are now veering around to a softer recession as against a severe and more widespread recession projected a few months back,” Das said at an event in Dubai.
According to the International Monetary Fund’s latest economic outlook, global growth is forecast to slow to 2.7 per cent in 2023 from 3.2 per cent in 2022. The RBI said last month that it expected India’s economy to grow at 6.8 per cent in the current financial year.

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First Published: Jan 27 2023 | 6:12 PM IST

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