Economy reaching escape velocity from Covid: RBI report

The Reserve Bank of India (RBI) has stated prospects are brightening for the financial system, “achieving escape velocity from the pandemic as the second wave wanes and preparedness for future remains on war-alert status.”
“Aggregate demand is gaining firmer ground, while on the supply side, index for industrial production and core industries mirror improvement in industrial activity and services sector indicators point towards sustained recovery,” the RBI stated in its month-to-month ‘State of the economy’ report.
“As pandemic scars heal and supply conditions are restored with productivity gains, a sustained easing of core inflation can be expected, which will reinforce the growth-supportive stance of monetary policy,” it stated.