RBI: India's economy will have 'glorious summer'

The Reserve Bank of India has said the country has come out of the pandemic crisis and the recovery is getting stronger. The revival in the economy will exceed most forecasts which will drive the economy towards a “glorious summer” while throwing open the space for a greater policy support, the Reserve Bank of India said on Thursday. “Recent shifts in the macroeconomic landscape have brightened the outlook, with GDP in striking distance of attaining positive territory and inflation easing closer to the target, an article published in the Reserve Bank of India’s January bulletin said. The RBI is optimistic that if these movements sustain, policy space could open up to further support the recovery.