New Delhi: RBI has released the annual report for 2019-20 (July-June). This states that economic activities have been affected due to the COVID crisis. This has affected the production and supply chain. Costs have come down due to cost reduction. Due to slow investment, more reform is needed. The economy has been affected by slow activities.
Focus on increasing investment and reforms
The RBI’s annual report for 2019-20 focuses on increasing investment and reforms. In this report, RBI has said that in the second quarter also, the effect of corona on economic activity will be seen. The production and supply chain has been disturbed by Corona. Recovery will come from increased government and private consumption. The RBI has recommended reform for investment. In this report, the RBI has stated the need to invest $ 4.5 trillion in infra by 2040.
It has been reported in this report that the total gross income in 2019-20 has been Rs 1.50 lakh crore. Total gross income for this period has been reduced from Rs 1.95 lakh crore in the same period last year to Rs 1.50 lakh crore. As of June 30, RBI had a total deposit of Rs 11.76 lakh crore.
Growth was impacted by migrant crisis and reduced employment
RBI 2019-20 ANNUAL REPORT further states that the consumption of urban areas has shown a decline during this period. Rural demand has been better than in cities. It will take time for consumption to improve and conditions to return to normal. Growth has been affected by the migrant crisis and dwindling employment. The report says that it will take time to return the demand as before.
