RBI Governor Sees Strength in Tiger-Like Economy Amid Mixed Data

RBI Governor Shaktikanta Das reassures the public that positive factors in the Indian economy outweigh negatives, despite mixed data on growth. He highlights sectors like agriculture, services, and the auto industry as strong performers, while acknowledging challenges like increased subsidy outgoes. Inflation concerns continue, with upcoming data expected to be higher.

Reserve Bank Governor Shaktikanta Das delivered a mixed, yet optimistic message about India's economic health during his address at the Business Standard's annual BFSI event. Despite a decline in growth, he maintained that positive indicators are more pronounced.

Das pinpointed impressive GST e-way bills growth and cement industry performance as crucial factors propelling the economy forward. Meanwhile, increased subsidies remain an area of concern affecting Q2 GDP figures.

On regulatory matters, Das emphasized that the RBI's actions are deliberate and considered, aimed more at correction than punishment. The focus remains on preemptive measures to avoid systemic instability as seen with recent actions against certain non-banking financial companies.

(With inputs from agencies.)