16-03-2021 | 14:43 PM
RBI’s State of the Economy Report
The Reserve Bank of India (RBI) recently released its 'State of the Economy Report 2020', in which it has stated that the shape of the economic recovery in FY 2021-22 will be V-shaped.
V-shaped recovery is witnessed when an economy suffers a sharp economic decline followed by a strong recovery.
According to the report, this is the slowest pace of growth in the six months as record-high retail prices have hit the consumption.
Key Findings:
Regular purchases of diesel by the State refiners declined by 5.3 per cent in the month of February 2021. Diesel sales are closely linked to economic growth and account for about 40% of the country's total sales of refined petrol.
As per the report, gasoline and gasoil prices in India have increased to its record highs.
Taxes of the retail gasoline prices accounts for about 61% while for the diesel prices it accounts for 56%.
