Reserve Bank of India (RBI) Deputy Governor Michael D Patra on Friday knowledgeable that RBI stays dedicated to reviving and sustaining development on a sturdy foundation and continues to mitigate COVID-19 influence on the economy whereas making certain that inflation stays throughout the goal.

“We are on course to become among the fastest-growing economies of the world, but there is far to go,” he stated whereas delivering a digital keynote deal with on ‘RBI’s Pandemic Response: Stepping out of Oblivion’ at CD Deshmukh Memorial Lecture.

“Private consumption and investment are still a work in progress. RBI remains committed to reviving and sustaining growth on a durable basis and continues to mitigate COVID impact on the economy while ensuring that inflation remains within the target,” he stated.

Patra additional acknowledged that the RBI is constantly evaluating extremely risky and unsure circumstances and is at all times ready to guard the financial system from shocks. He acknowledged that the RBI has dedicated all its devices to this goal, utilizing standard measures and creating new ones, because the pandemic expertise confirmed.

“Only time will tell whether or not India has got it right but so far, this approach has served us well and helped in charting a course into the future which is different from the world,” added Patra.