Reserve Bank of India’s Governor Shaktikanta Das has pitched for higher investment in infrastructure and reforms in labour and product markets to ensure sustainable growth and generate employment opportunities post-pandemic.
Noting that the pandemic has affected the poor and the vulnerable more in emerging and developing countries, Das said ‘our endeavour should be to ensure livable and sustainable growth in the post-pandemic future. Restoring the durability of private consumption, which has remained historically the mainstay of aggregate demand will be very crucial going forward’. He also said more importantly, sustainable growth should entail meeting on macro fundamentals via medium-term investments, sound financial systems and structural reforms.
Das has stated that towards this objective, a big push to investment in healthcare, education, innovation, physical and digital infrastructure will be required. He said ‘we should also continue with further reforms in labour and product markets to encourage competition and dynamism, and to benefit from the pandemic induced opportunities’.
