Won’t hesitate to take more action to fuel growth: RBI Guv

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday assured the industry that the central bank was closely monitoring the economic situation and will not hesitate to take appropriate action, as he underlined the need for stepping up investment in the infrastructure sector to reignite growth hit by the Covid-19 crisis.

Addressing members of industry chamber CII, Das said a big push to certain targeted mega infrastructure projects can spur the economy, as was done by the Golden Quadrilateral project in the past.

“This could begin in the form of a north-south and east-west expressway together with high speed rail corridors, both of which would generate large forward and backward linkages for several other sectors of the economy and regions around the rail/road networks. Both public and private investment would be key to financing our infrastructure investments,” he said.