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RBI report says second wave caused Rs 2 trillion hit to economy and defends quote fests

The State of the Economy report says the Indian economy will not only bounce back from the pandemic but will unshackle itself from pre-existing cyclical and structural hindrances 

June 17, 2021 / 08:32 AM IST
RBI report says second wave caused Rs 2 trillion hit to economy and defends quote fests

RBI | PC-Shutterstock

What insights does the RBI’s latest State of the Economy report offer on growth and inflation? This month’s report was eagerly awaited, as it was expected to shine a bright light on the surge in inflation and the impact of the devastating second wave. On growth, the report says the impact of the second wave is estimated at around Rs 2 lakh crore of lost 2021-22 output. As it pointed out in its last report, the shock to the economy...

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