November 23, 2024 01:43 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024 | UK can arrest Benjamin Netanyahu if he visits country based on ICC warrant | Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma
Structural reforms, fiscal measures needed to push demand, boost growth: RBI Governor
Image credit : UNI

Structural reforms, fiscal measures needed to push demand, boost growth: RBI Governor

| @indiablooms | 24 Jan 2020, 06:12 pm

New Delhi/UNI: Reserve Bank of India Governor Shaktikanta Das on Friday said structural reforms and fiscal measures have to be continued to provide a push to demand and boost growth.

Das highlighted certain potential growth drivers, which could give a significant push to growth. Some of these include prioritising food processing industries, tourism, e-commerce, start-ups and efforts to become a part of the global value chain.

"The Government is also focusing on infrastructure spending which will augment growth potential of the economy. States should also play an important role by enhancing capital expenditure which has high multiplier effect," he said, delivering a lecture at the St Stephen's College here on "Seven Ages of India's Monetary Policy".

Das said the RBI constantly updated its assessment of the economy based on incoming data and survey based forward looking information juxtaposed with model-based estimates for policy formulation. This approach helped the Bank to use the policy space opened up by the expected moderation in inflation and act early, recognising the imminent slowdown before it was confirmed by data subsequently.

"Monetary policy, however, has its own limits. Structural reforms and fiscal measures may have to be continued and further activated to provide a durable push to demand and boost growth," he said.

The Indian economy is projected to grow 5 per cent in the fiscal year due to end in March, its lowest growth rate in 11 years.

Image credit : UNI

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.