Economic activity stays strong: RBI
Business Standard|January 18, 2022
The Omicron-led third wave of Covid19 may turn out to be "more of a flash flood than a wave", and the Indian economy could rebound to pre-pandemic levels, according to the Reserve Bank of India's (RBI's) State of the Economy report released on Monday.
ANUP ROY

The report, part of the RBI's January bulletin, said: “The overall economic activity in India remains strong, with upbeat consumer and business confidence and upticks in several incoming high-frequency indicators." However, the infection surge due to Omicron has dented the recovery to a large extent, albeit temporarily. "The recovery that has been underway in the Indian economy with the ebbing of the second wave of the pandemic is encountering headwinds from a rapid surge in infections in a third wave marked by the rapid transmissibility of the Omicron variant," the report said.

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