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A $9 Trillion Dent To Global Economy Due To Covid 19 : Das

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After March 27 address, the RBI governor in his briefing today may announce some stimulus measures to provide a cushion from the fall-out due to the pandemic. In his addres he says that 'mission is to do whatever it takes'. Also to prevent the steeping of the curve of the covid 19.

As per the IMF projection, Das hints that global economy will see a hit of $9.1 trillion due to Covid 19 in 2021-2022.

A $9 Trillion Dent To Global Economy Due To Covid 19: Das
 

For India, the growth is seen at 1.9%, the highest among G-20 nations.

"The COVID-19 pandemic is an invisible assassin which needs to be contained quickly before it spreads and wreaks havoc on valuable human lives and the macro economy. In this scenario, it is important to ensure that finance, which is the lifeline of the economy, keeps flowing seamlessly to various sectors of the economy," he said in the minutes of the recent MPC meet.

Earlier measures taken by the RBI include:

1. Repo rate cut to record low of 4.4%

2. Injecting rupee liquidity through LTROs

3. Reduction in CRR to 3% from 4% earlier

Read more about: shaktikanta das rbi
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