•  As a result of the current global economic and financial situation, the Bank now projects that the Canadian recession will be deeper than we projected in the January MPR Update. Our return to growth will be delayed by one quarter, to the end of 2009, and our recovery will be somewhat more gradual.
Both, RBI and the Government would have to collectively work towards creating the necessary enablers for growth like moderate inflation, stable exchange rate, fiscal consolidation, predictable legal/taxation and auditing regime. Early resolution of the impasse on land acquisition, enactment of GST and bankruptcy code would also provide strong leg up to investment climate in the country and drive up growth.