New Delhi, July 27
Reserve Bank of India (RBI) Governor Shaktikanta Das today assured the industry that the central bank was closely monitoring the economic situation and would not hesitate to take appropriate action, as he underlined the need for stepping up investment in the infrastructure sector to reignite growth hit by the Covid-19 crisis.
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Expressways, high-speed rail corridors needed
This (infra push) could begin in the form of north-south and east-west expressways together with high-speed rail corridors, both of which would generate large forward and backward linkages for several other sectors of the economy. —Shaktikanta Das, RBI Governor
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Addressing members of the Confederation of Indian Industry (CII), Das said a big push to certain targeted mega infrastructure projects could spur economy, as was done by the Golden Quadrilateral project in the past.
"This could begin in the form of north-south and east-west expressways together with high-speed rail corridors, both of which would generate forward and backward linkages for other sectors of economy and regions around the rail/road networks. Both public and private investment would be key to financing such projects," he said.
Noting that the progress made on physical infrastructure in the country over the past five years needs to be viewed as no less than a dynamic shift, he said India would need around $4.5 trillion for investment in infrastructure by 2030, as per NITI Aayog. — PTI
from The Tribune https://ift.tt/332heVQ
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