Mumbai: Many macro indicators show that the economic recovery now survives after the beating has been taken during a pandemic, but for growth becomes sustainable and achieving its potential, private capital investment must be continued, said Governor of Bank Reserve on Tuesday.
RBBI Governor Shaktikanta Das said the economy had the potential to grow at a fairly high speed in the post-pandemic scenario, providing private capital investment resumes.
Although many economists revise their growth forecast between 8.5 and 10 percent for current fiscal, the central bank has not changed the estimated 9.5 percent for this year so far.
Overcoming banking functions – which according to him is the first since the pandemic began in March 2020, the governor asked the banks to be ready for investment when the investment cycle increased, the RBI felt from the next fiscal.
It can be noted that since 2013, private capital has been lost from the economy and many of which have the view that this must start from the next mid fiscal.
Even though he took consolation at the bank balance sheet, the governor said the bank’s bad loan had dropped in the September quarter from the previous quarter.
Das also asked the bank to improve their capital management process.
Praising technology entrepreneurs, the governor said the country had emerged as a top player in the startup landscape, attracted billions of foreign capital.
Watching the Conquered Economic Recovery: Governor of RBI Shaktikanta Das