According to an RBI article, India's general economic activity is solid, owing to rising consumer confidence and bank credit, and forecasts that Omicron will be a "flash deluge rather than a wave" have improved the outlook. "India has achieved rapid progress in the field of vaccination. Recent statistics from the United Kingdom and South Africa suggest that Omicron infections are 66 to 80% less severe, with a lower requirement for hospitalization "On Monday, the RBI Bulletin issued an item on the state of the economy. Aggregate demand conditions remain resilient amid rising consumer and business confidence and an increase in bank credit, while rabi sowing has above last year's level and normal acreage, according to the report. "Overall economic activity in India continues solid, with optimistic consumer and business sentiment and upticks in key incoming high frequency indicators," the piece added, noting that manufacturing and other categories of services are still expanding. "Expectations that Omicron will be more of a flash flood than a wave have brightened near-term prospects," the report added. The views expressed in the article are those of the authors and do not necessarily reflect those of the Reserve Bank of India, according to the central bank (RBI). Although the waning of inflation may take longer, there are signs that supply chain disruptions and shipping costs are slowly lessening. According to the report, this presents a window of opportunity to focus all energy on accelerating and broadening the global recovery.