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Saturday, October 23, 2021

RBI Governor pushes for ‘big investment’ in infra, health

Shaktikanta Das said sustainable growth should entail building on macro fundamentals via medium term investments, sound financial systems and structural reforms.

By: ENS Economic Bureau | Mumbai |
Updated: September 23, 2021 5:06:41 am
Reserve Bank Governor Shaktikanta Das. (File)

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday batted for a big push to infrastructure particularly in areas of health, education, low carbon and digital economy in addition to transport and communication for sustainable growth.

Das said sustainable growth should entail building on macro fundamentals via medium term investments, sound financial systems and structural reforms. “Towards this objective, a big push to investment in healthcare, education, innovation, physical and digital infrastructure will be required. We should also continue with further reforms in labour and product markets to encourage competition and dynamism and to benefit from pandemic induced opportunities,” he said while addressing a meet organised by the All India Management Association (AIMA)).

In addition, the warehousing and supply-chain infrastructure will be critical to bolster value addition and productivity in the agriculture and horticulture sector, he said.

“As we recover, we must deal with the legacies of the crisis and create conditions for strong, inclusive and sustainable growth,” he said.

“Limiting the damage that the crisis inflicted was just the first step; our endeavour should be to ensure durable and sustainable growth in the post-pandemic future,” Das said. Restoring durability of private consumption, which has remained historically the mainstay of aggregate demand, will be crucial going forward.

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