RBI annual report
Posted on : 30 Nov 2019Views: 840
- The report, which is released every year, analyses the working and operations of the RBI and suggests measures to improve the economic performance.
- Release of the new economic capital framework under which RBI will transfer ₹1.76 trillion surplus to the government.
- Reviving consumption demand and private investment remains the top priority in the current fiscal.
- RBI, cautioned that a broad-based cyclical downturn is underway in several sectors—manufacturing, trade, hotels, transport, communication and broadcasting, construction, and agriculture.
- The delayed onset and skewed distribution of the south-west monsoon may pose downside risks to crop production and rural consumption demand.
- The central bank has forecast India’s GDP to grow at 6.9% for FY20—in the range of 5.8-6.6% during the first half of the year and 7.3-7.5% in the second half.
- The annual report pointed out that throughout the year, protectionist policy pronouncements and actions dominated the global political arena.
- Another conduit through which trade wars and other sources of global spillovers impacted India during 2018-19 is the intertwining of the finance and confidence channels.
- Viable external financing can become an additional consideration for holding adequate precautionary buffers.
- One of the recommendations of BimalJalan committee report is that the central bank should align its accounting year to the Arpil-March fiscal year for better understanding.
Article Related Questions
Consider the following Statements regarding recently released RBI’s annual report
1.The report, is released every 2 years
2.The central bank has forecast India’s GDP to grow at 6.9% for FY20
Which of the above statements is/are correct?
3.Both 1 and 2
4.Neither 1 nor 2
Right Ans : 2 only