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Lack of demand is hobbling the economy’s animal spirits, says RBI

Date: 30 August 2019 Tags: Monetary Policy & RBI
  • The Reserve Bank of India (RBI), in its annual report for 2018-19, has said the lack of domestic demand is holding back the animal spirits in the economy.
  • The report said the recent deceleration could be in the nature of a soft patch mutating into a cyclical downswing, rather than a deep structural slowdown.
  • Nonetheless, the report says that there are still structural issues in land, labour, agricultural marketing and the like, which need to be addressed.
  • In the report the RBI emphasised the need to revive consumption demand and private investment during 2019-20.
  • The report said that the policy focus at this point should remain on improving the ease of doing business.