RBI has highlighted in its Monetary Report that economic activities in India will be affected adversely due to lockdowns because of COVID-19. The Central Bank has made this observation without making any growth forecast for this year. RBI also said that a possible decline in food prices may be offset by the increase in prices of non-food items due to disruptions in supply. It further pointed out that India's economy increased at its slowest pace in more than six years in the last three months of 2019 and nationwide lockdown is poised to affect the March quarter growth.
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