Omicron threatens near term economic prospects: RBI report

More recent high-frequency indicators of economic activity suggest some loss of momentum in the third quarter of 2021-22, though the Indian economy expanded by8.4 per cent year-on-year (y-o-y) in July-September 2021, with the level of GDP exceeding pre-pandemic levels (July-September 2019) for the first time since the pandemic struck, the Reserve Bank said in its latest Financial Stability Report.

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