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The fiscal, monetary, and regulatory measures undertaken so far this year will pave the way for a virtuous cycle of higher private investment and growth, leading to long-term economic resilience, the RBI bulletin said on Monday. The Indian economy showed signs of a further pick-up in momentum, despite continuing global headwinds, said an article on 'State of the Economy' published in the November bulletin. "Available high-frequency indicators for October suggest a robust expansion in both manufacturing and services activities, supported by festive season demand and the ongoing positive impact of the GST reforms," it said. Inflation has moderated to a historic low and remained well below the target rate, it said, adding that financial conditions remained benign, and the flow of financial resources. "The fiscal, monetary, and regulatory measures undertaken so far this year should pave the way for a virtuous cycle of higher private investment, productivity, and growth, leading to ...
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank. "Immensely grateful to the Hon'ble PM @narendramodi for giving me this opportunity to serve the country as Governor RBI and for his guidance and encouragement. Benefited a lot from his ideas and thoughts," he said in a post on X from his personal handle. Expressing gratitude to Finance Minister Nirmala Sitharaman for her constant support and backing, he said, fiscal-monetary coordination was at its best and helped to deal with multiple challenges during the last six years. He also thanked all the stakeholders in the financial sector and in the economy; expe