The Governor of Reserve Bank of India (RBI), Shaktikanta Das on October 09 announced that Gross Domestic Product (GDP) is expected to decline by 9.5% in 2021.
"For the year 2021, real GDP is expected to decline by 9.5% with risks tilted towards the downside," said Shaktikanta Das, RBI Governor, while addressing a press conference.
"Our assessment is that inflation will remain elevated in September but ease gradually towards the target over Q3 and Q4.
Our analysis also suggests that supply disruptions and associated margins and markups are the major factors driving up inflation," Shaktikanta Das added.