Reserve Bank of India (RBI) Governor, Sanjay Malhotra, in the foreword of the December 2024 edition of RBI’s Financial Stability Report said the prospects of the Indian economy are expected to improve following the recent slowdown in gross domestic product (GDP) growth, with consumer and business confidence remaining high.
“Consumer and business confidence for the year ahead remain high and the investment scenario is brighter as corporations step into 2025 with robust balance sheets and high profitability,” the newly appointed RBI Governor said.
“Notwithstanding the uncertainties shrouding the global macrofinancial ethos as it unfolds, prospects for the Indian economy are expected to improve after the slowdown in the pace of economic activity in the first half of 2024–25,” he added.
Showcasing positivism towards the year ahead, he Governor said as the year 2024 draws to a close and a new year dawns, the global economy exhibits resilience in the face of formidable headwinds from political and economic policy uncertainty, persisting conflicts and an environment of fragmenting international trade and tariffs.
(Developing story)
