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RBI’s Annual Report for 2019-20 released

  • IASbaba
  • August 27, 2020
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RBI’s Annual Report for 2019-20 released

Part of: GS-Prelims and GS-III – Economy

In News:

  • RBI annual report for 2019-20 was recently released. 

Key takeaways of the report

  • Economic contraction triggered by the COVID-19 pandemic would extend into the second quarter. 
  • The shock to consumption has been severe. 
  • The government consumption would be key to the revival of demand. 
  • High frequency indicators point to a reduction in spending that was never observed till now. 
  • RBI’s survey for July month indicated that consumer confidence fell to an all-time low. 
  • Majority of respondents reported pessimism relating to the general economic situation, employment, inflation and income.

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