In its October 2024 Monetary Policy Statement, the Reserve Bank of India (RBI) highlighted encouraging signs of recovery in domestic demand. Governor Shaktikanta Das noted that rural demand is trending upwards, buoyed by various factors, while urban demand has remained firm.
This uptick in demand supports the bank’s view that the Indian economy is on a steady recovery path, driven by both consumption and investment. The central bank’s assessment suggests that domestic economic activity is stabilizing, even in the face of external global pressures.
Disclaimer: The article is based on the latest RBI Monetary Policy updates.
