Business Standard

Worst over for global economy, 'softer recession' likely: RBI governor

There is a need to improve retail access to markets, particularly gilts and derivatives, he says

Shaktikanta Das. Photo: Kamlesh Pednekar
Premium

Das voiced optimism about the prospects of India’s economy

Bhaskar Dutta Mumbai
The global economy is expected to contract significantly this year but the worst seems to be behind us, both in terms of growth and inflation, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday.

“On the growth front, projections are now veering around to a softer recession as against a severe and more widespread recession projected a few months back,” Das said at an event in Dubai.

According to the International Monetary Fund’s latest economic outlook, global growth is forecast to slow to 2.7 per cent in 2023 from 3.2 per cent in 2022. The RBI said last month that

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 27 2023 | 6:12 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com