Economy recovering faster than expected, inflation needs to be tackled: RBI

The National Statistical Office's (NSO) end-November release showed that the Covid-19 pandemic imposed retrenchment of the first quarter was much shallower in the second quarter

 Indian economy is recovering faster than expected and may post minor positive growth in the third quarter, but efforts need to be redoubled to fight inflation so that it doesn’t hurt the incipient growth impulses, according to the State of the Economy report in the December Bulletin of the Reserve Bank of India (RBI).

“Indian economy is pulling out of Covid-19’s deep abyss and is reflating at a pace that beats most predictions," the report said. Although there are headwinds, “steadfast efforts by all stakeholders could put India on a faster growth trajectory,” the report said.

The National Statistical Office’s