RBI Governor Shaktikant Das said he was confident that the Indian economy would recover after the easing of the embargo. He said that while maintaining economic stability by building trust in the minds of the people, it is important to revive the economy by moving towards growth again.
Speaking at the SBI Banking and Economics Conclave, he said that Indian companies and industries have responded well even during the covid crisis. It is still uncertain when the supply chains will be restored.
Further economic growth will depend on when demand resumes and what the lasting effects of the Corona outbreak will be. The government has already created an environment conducive to growth through targeted and comprehensive reform measures.
Innovative ways were adopted to broaden economic dynamism in the post-Covid period. It will rebalance and new elements of development will emerge. The RBI is trying to strike a balance between maintaining financial stability, strengthening the banking system and sustaining economic activity.