Need to guard against ‘digital divide’ after pandemic, warns RBI governor
Reserve Bank of India Governor Shaktikanta Das noted on Wednesday that a major challenge to contain pandemic after pandemic would come from the automation provided by the pandemic.
“More automation will result in overall productivity gains, but it could also lead to a reduction in the labor market. [This] Speaking virtually at an annual conference of the All India Manufacturers Association, Mr. Das said, “There is a need for critical skills of our workforce.” “We need to avoid any emergence of the ‘digital divide’ as the pace of digitization has accelerated after the pandemic,” he said. He said that the need for trained professionals in science, technology, engineering and mathematics is increasing rapidly. “In the short term, the supply of such a workforce cannot be increased by the traditional education system; requires the close involvement of corporations in the design and implementation of [suitable] course,” he said.
On the economic recovery, he said: “Restoring the stability of private consumption, which has historically been the mainstay of aggregate demand, will be critical going forward.”
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