Economy achieving escape velocity from Covid: RBI report

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“Aggregate demand is gaining firmer ground, while on the supply side, index for industrial production and core industries mirror improvement in industrial activity and services sector indicators point towards sustained recovery,” the RBI said in its monthly ‘State of the economy’ report.
The Reserve Bank of India (RBI) has said prospects are brightening for the economy, “achieving escape velocity from the pandemic as the second wave wanes and preparedness for future remains on war-alert status.”
“As pandemic scars heal and supply conditions are restored with productivity gains, a sustained easing of core inflation can be expected, which will reinforce the growth-supportive stance of monetary policy,” it said.
"Adam Smith was an 18th-century Scottish economist, philosopher, and author who is considered the father of modern economics."
The Reserve Bank of India is India's central bank and regulatory body under the jurisdiction of Ministry of Finance, Government of India. It is responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system. Established in 1 April 1935.
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Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the 25th Governor of the Reserve Bank of India effective December 12, 2018.