Shaktikanta Das said at the conclave, “I firmly believe that India The post-pandemic scenario has the potential to grow at a reasonably high pace. ,
Despite several economists revising their growth projections for the current fiscal to between 8.5 and 10 per cent, the central bank has so far not changed its forecast to 9.5 per cent for the year.
Addressing a banking function – which he said is his first since the pandemic began in March 2020, the governor asked banks to be ready to invest when the investment cycle picks up, which the RBI will consider for the next financial year. feels to start with.
It may be noted that since 2013, private capital has disappeared from the economy and many believe that it should start from the middle of the next fiscal year.
He said, “Several high-frequency indicators suggest that economic recovery is now taking hold … While the economy is growing, it has yet to cover a lot of ground before it becomes broad-based and well-established.” Is.”
The Governor said that the festive season is helping the economy to make a comeback. He encouraged firms to expand, increase employment and investment.
Das also mentioned the impact of reduction in petrol and diesel duty. He said that this would help in increasing the purchasing power of the people.
“Recent cut in excise duty on petrol and diesel” central government and in tub Many state governments will increase the purchasing power of the people which, in turn, will create room for additional consumption,” he said.