India’s economic recovery continues to gain traction, even as uncertainty shrouds the global economic outlook. Demand conditions have strengthened, aided by the contained COVID situation, vaccine progress and festive demand. Corporate Q2 FY22 earnings reports show strong profitability and broader recovery to smaller firms and contact intensive industries, supporting nascent signs of pick up in private investment activity. Further, prospects of higher fiscal spending are expected to support the economic recovery. The RBI is expected to hike reverse repo in the upcoming meetings in December/February, aligning with its gradual policy normalization approach.
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