Reserve Bank Governor Shaktikanta Das spoke on a wide range of topics while speaking on the 185th Foundation Day of the Bombay Chamber of Commerce and Industry. He said that the manufacturing sector is working to improve the pace of growth. He said that the MSME sector of the country has come forward as the engine of growth of the economy. With this, the RBI governor said that companies need to invest more in the healthcare sector. He said that India is on the threshold of moving forward on the path of success.
Raised some concerns about cryptocurrency
Regarding cryptocurrency, the RBI governor said that RBI is working on digital currency, which is different from cryptocurrency. He clearly said that India too will not lag behind in the technology revolution. At the same time, he raised some concerns about cryptocurrency.
Central and state government should take steps to reduce fuel prices
Regarding increasing fuel prices daily, the RBI Governor said that fuel prices are the cost-increasing factors, in this case the Center and the states need to take coordinated steps to reduce taxes on fuel prices. He said that we are working on improving our regulatory framework for the MFI sector.
Diesel & petrol prices do have an impact on the cost side. They play as cost push factor across a range of activities. It’s not just that passengers who use cars and bikes. High fuel prices also have an impact on cost of manufacturing, transportation and other aspects: RBI Governor pic.twitter.com/zn4AzB5Ag8
– ANI (@ANI) February 25, 2021
Strengthened and deepened its work in the field of inspection
The RBI governor also said that we have sharpened and deepened our work in the field of inspection. The Indian financial sector today is in a better position than ever before, we have given a precise thought in terms of increasing assets under pressure in banks.
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