Insta
FY22 Growth Estimate Of 10.5 Per Cent Would Not Require A Downward Revision: RBI Governor Shaktikanta Das
IANS
Mar 25, 2021, 02:14 PM | Updated 02:14 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Showing confidence on India economic recovery, Reserve Bank of India Governor Shaktikanta Das said that the growth projection of 10.5 per cent for the next financial year would not have to be revised given the strong economic recovery of the country.
Speaking at the India Economic Conclave, Das said that now the world knows the dangers of the Covid-19 pandemic and it is not as in the case of 2020 when there was complete uncertainty.
"The revival of economic activity which has happened, should continue unabated going forward. My understanding and our preliminary analysis show that the growth rate in next year, which is at 10.5 per cent which we had given could not require, I repeat, would not require a downward revision," he said.
On the recent frenzy bond market and the surge in the bond yields globally, the Governor cautioned that disorderly yield curve evolution will act as an impediment for growth and will undermine the process of economic recovery, not just in India but globally.
Regarding the proposed privatisation of state-run banks, Das said that the central bank is discussing the privatisation of public sector banks with the centre, adding that the process will move on.
He said that a healthy banking sector, with a strong capital base and ethics-driven governance remained a policy priority.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.