Recovery not ‘fully entrenched’

Recovery not ‘fully entrenched’

Shaktikanta Das, RBI Governor - File photo

Tribune News Service

New Delhi, September 16

Reserve Bank of India (RBI) Governor Shaktikanta Das today sought to project an optimistic outlook for the economy in his second recent address to an industrial chamber after the GDP for the first quarter recorded a 24 per cent crash.

 Shaktikanta Das, RBI Governor

Gradual process: Das

The recovery is not yet fully entrenched… It is likely to be gradual as efforts towards reopening of the economy are confronted with rising infections.

Predicting a gradual recovery as against a “V” shaped bounce-back as suggested by economists, Das said in the medium-term, India needed to focus on five areas — human capital in education and health, productivity, exports, tourism and food processing.

The sunrise sectors that offered potential for higher exports in the post-Covid period were drugs and pharmaceuticals, he said. “A sharp policy focus on other global value chain intensive network products, including IT hardware, electrical appliances, electronics, telecommunications and automobiles would also provide the cutting edge to India’s export strategy with considerable scope for higher value additions,’’ he said.

Das said tourism and hospitality sectors had been impacted more by Covid, but these might see early revival.

Top Stories

India’s single-day COVID recoveries surpass fresh cases as 92,043 people recuperate

India’s single-day COVID recoveries surpass fresh cases as 92,043 people recuperate

Total recoveries close to 50 lakhs; 88,600 new infections re...

Farm bills can have disastrous implications for national economy: Sukhbir Badal

Farm bills can have disastrous implications for national economy: Sukhbir Badal

Sukhbir Singh Badal calls for closing ranks for a united fig...

Akalis snapping ties with NDA unfortunate: Punjab BJP leaders

Akalis snapping ties with NDA unfortunate: Punjab BJP leaders

SAD on Saturday night had announced to quit the National Dem...

Congress dares JJP to quit ruling BJP alliance in Haryana over farm Bills

Congress dares JJP to quit ruling BJP alliance in Haryana over farm Bills

Selja, Jakhar urge all NDA supporting  parties to oppose far...

Mann Ki Baat: Farmers are the foundation of Atmanirbhar Bharat, says PM Modi

Mann Ki Baat: Farmers are the foundation of Atmanirbhar Bharat, says PM Modi

'Farmers can now sell their produce wherever they want'

Cities

View All