New Delhi, October 21
The Reserve Bank of India Governor, Shaktikanta Das, on Wednesday said the country was on the doorstep of economic revival on the back of accommodative monetary and fiscal policies being pursued by the central bank and the government.
"We are almost on the doorstep of the revival process and it is very important that the financial entities have adequate capital (to support growth)," Das said, while speaking at the launch of a book "Portraits of Power: Half a Century of Being at Ringside", written by former bureaucrat and incumbent Chairman of the Finance Commission NK Singh.
Many of them had already raised capital and others were planning, he said, adding they would certainly do so in the coming months.
Das said India followed the fiscal expansion path to deal with Covid-related challenges. "I think once the pandemic is contained, the government will certainly have to spell out a fiscal roadmap that India should adopt," he said.
Both fiscal and monetary policies were in an accommodative stance, he added. PTI
from The Tribune https://ift.tt/3odWbaF
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