India's economy may have grown 22.1% in Q1, but demand is still low: RBI

The RBI, in its state of the economy report, cited a mathematical model that suggested, in the best and normal course, the third wave could just be a ripple and life would return to normalcy by August

The tapering of the second Covid-19 wave, coupled with an aggressive vaccination push, has brightened the near-term prospects for the Indian economy, and real gross domestic product (GDP) growth is estimated at 22.1 per cent in the April-June quarter, the Reserve Bank of India (RBI) said in its July bulletin on Thursday.  

“A solid increase in aggregate demand is yet to take shape. Even with a 9.5 per cent GDP growth in 2020-21, there will be substantial slack in the economy and demand pressures may take some more time to become evident,” the central bank warned in the article titled State