Shaktikanta Das, the Governor of Reserve Bank Of India (RBI), stated in a latest media interview that there are signs of some of the fast moving indicators improving. Passenger vehicles, sequentially, have improved marginally. Several of the fast moving indicators that include GST collections, e-way bills, railway freight, have improved over the position a month ago, he noted. Manufacturing PMI has come back to the expansion zone, as per the latest data. Services PMI is still in the contraction zone. Though below 50, it is sequentially better than the previous data. The latest inflation print for July is also on expected lines. However, the the process of economic revival is very delicately poised. And ever since the pandemic began, RBI has carefully endeavoured to nurture and revive the process of growth.
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