Highlighting the state of the economy, RBI said that "amidst an accentuation of global risks, the Indian economy is picking up steam, although the recovery is uneven and trudging through soft patches. The step-up in vaccination, slump in new cases/mortality rates and normalising mobility has rebuilt confidence."
RBI added that domestic demand is gaining strength while aggregate supply conditions are recouping, powered by the robust performance of Kharif agricultural production and revival in manufacturing and services.
"Softer than expected food prices have eased headline inflation into a closer alignment with the target," RBI said.
The Bulletin includes Governor’s Statement, Monetary Policy Statement, 2021-22 Resolution of the Monetary Policy Committee (MPC) October 6-8, 2021, Monetary Policy Report – October 2021, five Speeches, five Articles and Current Statistics.