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RBI says demand conditions in economy are gathering momentum
The Daily Guardian
|August 20, 2024
The demand conditions in the economy are gathering momentum after some slack in the first quarter of 2024-25, the Reserve Bank of India said in its monthly bulletin of August 2024.
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As per the apex bank, signs of revival in rural consumption are visible as the growing income has started driving volume growth in fast-moving consumer goods (FMCG) which reflects strengthening fundamentals. It further added that rural saving is also on the rise, as evidenced by the rising number and outstanding amounts of savings bank accounts. The RBI said that the receding of inflation pressures has pushed rural spending, driving a catchup with urban consumption volumes.
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