RBI Governor Shaktikanta Das Says There Is No Global Recession As Yet

RBI Governor Shaktikanta Das said on Thursday global growth is slowing down and central banks across the world are bracing up to counter it by easing monetary policy, but there is no recession as yet. He also said the economy is resilient, but the government has little scope for fiscal expansion.

“International environment is clouded with challenging conditions. Global growth is slowing down and central banks across the world are bracing up to counter it by easing monetary policy; but there is no recession as yet,” Das said at Bloomberg India Economic Forum in Mumbai. 

"Despite rising external risks, domestic economy is resilient as foreign debt is only 19.7 per cent of GDP," he said, according to PTI.

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