The country’s foreign exchange reserves have reached a new record. Reserve Bank of India (RBI) Governor Shaktikanta Das said during the monetary policy announcement on Friday that till last Friday, the country’s foreign exchange reserves have reached a record high of $ 598.2 billion and official figures regarding this will be released in the evening. The RBI governor also said that according to the indications received this week, the country’s foreign exchange reserves have crossed the $ 600 billion mark and official figures regarding this will be released next Friday.
Mumbai. The country’s foreign exchange reserves have reached a new record. Reserve Bank of India (RBI) Governor Shaktikanta Das said during the monetary policy announcement on Friday that till last Friday, the country’s foreign exchange reserves have reached a record high of $ 598.2 billion and official figures regarding this will be released in the evening. The RBI governor also said that according to the indications received this week, the country’s foreign exchange reserves have crossed the $ 600 billion mark and official figures regarding this will be released next Friday.
The country’s foreign exchange reserves have almost doubled during the tenure of Prime Minister Narendra Modi. Prime Minister Modi took office in May 2014. The country’s foreign exchange reserves stood at $312.38 billion at the end of May 2014, which has now crossed $600 billion. The second term of the Modi government has completed 2 years and during 2 years the foreign exchange reserves of the country have increased by about $ 179 billion. The country’s foreign exchange reserves stood at $421.86 billion at the end of May 2019.
The currency reserves have increased due to increase in gold reserves and foreign exchange assets. Announcing the central bank’s bi-monthly monetary policy review on Friday, Das said that based on current estimates, we believe that forex reserves may have crossed the $ 600 billion mark. The central bank has announced several steps to encourage liquidity in the economy. These include special cash facility for various sectors affected by the Kovid-19 epidemic. The Reserve Bank also announced the Government Securities Purchase Program (G-SAP) 2.0. The central bank said that in the second quarter of the current financial year, the Reserve Bank will buy government securities worth Rs 1.20 lakh crore from the secondary market. At the same time, the Reserve Bank will buy government securities worth Rs 40,000 crore on June 17.
The economy of all the countries of the world has suffered huge losses due to the Corona epidemic. India too is no different. There has been a decline of 7.3 percent in GDP in the year 2020-21. By the way, the central government itself in February this year had estimated a decline of 8 percent in GDP during the entire financial year 2020-21. In that respect it can be called better. Some economists say that India is going through the worst phase in the last 49 years, but if you look at the condition of all the big countries of the world regarding the year 2020, then you will believe that the country’s economy is much better under the leadership of Prime Minister Narendra Modi. is in position.
More Stories
Due to India’s growing stature in the world, why China-Pak got chilli
Mamata’s new Bengal becomes the new launch pad of terrorism
Small farmers are the real power of the dairy sector, an example for the world, India’s network of dairy cooperatives: PM Modi