Kudos to Mint Street mandarins

RBI's adept role in India's recovery deserves greater recognition

India's post-pandemic economic recovery appears to be well underway, with gross domestic product (GDP) growth in FY24 expected to exceed 7.5 per cent — substantially above earlier projections of 6-6.5 per cent. This comes after a growth of 7 per cent in FY23 and 9.7 per cent in FY22.  While there is some unevenness in growth, particularly with agriculture still struggling, overall, the recovery has surprised on the upside.

The crucial role played by the Reserve Bank of India (RBI) in this recovery has received less attention than it deserves. Like a duck moving across a pond effortlessly while paddling furiously