Reserve Bank of India ( RBI ) governor Shaktikanta Das said the country’s economic recovery will be gradual because of the unabated rise of coronavirus cases, but come what may, the central bank is “battle-ready" to take all steps necessary to restore growth. The “efforts towards reopening the economy are confronted with rising infections", Das said at a public event on Wednesday. In recent estimates, RBI has said that the economy will continue to contract in the fiscal first half due to disruptions from covid-19. Das said the central bank continues to be worried about the vulnerability of non-banking financial companies (NBFC). “Education and skill development contribute less than 0.5% to our overall labour productivity growth.

Source: Mint September 17, 2020 00:11 UTC