Economy getting over pandemic, growth headed for 'glorious summer': RBI

Labour market conditions are improving with a gradual pick up in employment, says central bank in January Bulletin

The economy has come out of the pandemic crisis and the recovery is getting stronger, the Reserve Bank of India (RBI) said on Thursday. The vaccination drive against the pandemic, it said, had brought in a new optimism and “barring the visitation of another wave, the worst is behind us”.

“Recent high-frequency indicators suggest that the recovery is getting stronger in its traction and soon the winter of our discontent will be made glorious summer,” the central bank said in its January Bulletin, quoting William Shakespeare to describe the state of the economy.

“Shifts in the macroeconomic landscape have brightened