“Our endeavor should be to ensure livable and sustainable development in the post-pandemic future,” Mr. Das said.
Reserve Bank Governor Shaktikanta Das on Wednesday advocated higher investment in infrastructure and reforms in labor and product markets to achieve sustainable post-pandemic growth.
Addressing the AIMA National Management Conference, Mr Das underlined the need to increase investments in health care education, digital and physical infrastructure to ensure sustainable growth and generate employment opportunities.
Noting that the pandemic has affected the poor and vulnerable more in emerging and developing countries, Mr Das said, “Our endeavor should be to ensure livable and sustainable development in the post-pandemic future. Restoring the stability of private consumption, which has historically been the mainstay of aggregate demand, will be very important going forward.
More importantly, he said, sustainable development must meet macro fundamentals through medium-term investments, sound financial systems and structural reforms.
“For this purpose, a major push will be needed for investment in health care, education, innovation, physical and digital infrastructure. We must continue to further reform labor and product markets to encourage competition and mobility and benefit from the pandemic induced opportunities,” he said.
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