India at Doorstep of Economic Revival, Says RBI Governor

New Delhi: Reserve Bank Governor Shaktikanta Das on Wednesday said the country is at the doorstep of economic revival on the back of accommodative monetary and fiscal policies being pursued by the central bank and the government. Also Read – Even Pakistan, Afghanistan Handled Covid-19 Better: Rahul Gandhi Takes a Dig at Govt Over IMF Projections

Das was speaking at the launch of the book ‘Portraits of Power: Half a Century of Being at Ringside’, written by a former bureaucrat and current chairman of the Finance Commission N K Singh. Also Read – India’s Public Debt, Stable Since 1991, To Jump to 90% Due to COVID-19 Pandemic: IMF

“We are almost at the doorstep of revival process and it’s very important that the financial entities have adequate capital (to support growth),” he said. Also Read – Indian Economy to Contract by Massive 10.3% in 2020, to Bounce Back Next Year: IMF

Many of them have already raised capital and others are planning, he said, adding they would certainly do so in the coming months.

Das further said India followed the fiscal expansion path to deal with COVID-19-related challenges.

“I think post COVID, once there is containment of pandemic, the government will certainly have to spell out a fiscal roadmap that India should adopt,” he said.

Both fiscal and monetary policies are in an accommodative stance, he added.