Mumbai: The Indian economy is shown signs of
improvement, the governor of the Reserve Bank of India said on Thursday,
adding that a pickup in rural demand would further improve economic
growth.
"You may see rural demand coming back more strongly, and that would be a very tremendous bonus to the economy compared to we are," Raghuram Rajan said at an industry event.
Dr Rajan said separately that the devaluation of the Chinese yuan was not something to be "concerned" about at current levels. He added, however, that global central banks depreciating currencies as a policy action was a worrisome trend.
On August 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
"You may see rural demand coming back more strongly, and that would be a very tremendous bonus to the economy compared to we are," Raghuram Rajan said at an industry event.
Dr Rajan said separately that the devaluation of the Chinese yuan was not something to be "concerned" about at current levels. He added, however, that global central banks depreciating currencies as a policy action was a worrisome trend.
On August 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
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