RBI's Report on Currency and Finance 2021-2022

On 29^th April, 2022, the Reserve Bank of India released the Report on Currency and Finance (RCF) for the year 2021-22.

• The theme of the Report was “Revive and Reconstruct” in the context of nurturing a durable recovery post-COVID and raising trend growth in the medium-term.

Suggested Reforms for Post-COVID-19 India: Timely rebalancing of monetary and fiscal policies will likely be the first step in this journey.

• Price stability is a necessary precondition for strong and sustainable growth.
• Reducing general government debt to below 66 per cent of GDP over the next five years is important to secure India’s medium-term growth prospects.
• It is necessary for state-run banks to reduce their dependence on the government for recapitalization.