What India really needs to do to build its infrastructure to create jobs

What India really needs to do to build its infrastructure to create jobs

July 5, 2021 Comments Off on What India really needs to do to build its infrastructure to create jobs By admin

India’s economy is showing signs of recovery, but the country still needs to build up its infrastructure and boost demand, the Reserve Bank of India (RBI) has said.

The economy expanded by 3.4 per cent in the first quarter of the year, a rate well below the 7 per cent growth target.

The GDP grew 7.9 per cent compared with 7.5 per cent the previous quarter.

Analysts expect growth to return to 7 per 1,000 people in 2019-20 from 7.4.

India’s economy grew by 7.8 per cent last year, which is a slight improvement from 7 per million people in the previous year.

India’s GDP grew 5.4% in the year to March, which was the highest in the world, according to the United Nations.

It was the first time since 2008 that the GDP had exceeded 7 per billion people.

The RBI has increased its key rate, which sets interest rates, to 1.5 percentage points to 0.5% from 1.3 per cent.

The RBI has also announced an emergency measure to allow it to provide more liquidity to banks.

The central bank is also planning to increase its interest-rate policy.

“The economy has not recovered from the recession but the economy is moving in the right direction,” Raghuram Rajan, the RBI governor, said during a speech to the Financial Services Council of India last week.

Mr Rajan said the central bank had provided more liquidity for banks.

More infrastructure spending will help the economy achieve its full potential, he said.

The economy is expected to grow by 5.9% this year, the slowest growth since 2011.

It is expected at 7.1% in 2019, a better performance than the 7.2% forecast in the third quarter of last year.