The manufacturing sector and micro, small and medium enterprises (MSME) are spearheading economic growth in the country after the outbreak of Covid-19 while many contact-intensive services sub-sectors remain severely affected by the crisis.
In the wake of the pandemic, the RBI undertook several conventional and unconventional measures. Unlike many central banks, the RBI s asset purchases did not dilute its balance sheet and hence, did not compromise on core principles of central banking, Das said while addressing an event organised by the Bombay Chamber of Commerce. These purchases were confined to risk-free sovereign (government) bonds including state government securities only, he said. Other than conventional measures, RBI introduced long term repo operations (LTROs) and targeted long term repo operations (TLTROs) to augment the system as well as sector-specific liquidity to meet sectoral credit needs and alleviate stress, he said.
The manufacturing sector and micro, small and medium enterprises (MSME) are spearheading economic growth in the country after the outbreak of Covid-19 while many contact-intensive services sub-sectors remain severely affected by the crisis, RBI Governor Shaktikanta Das said on Thursday.
However, the recent government initiatives under AatmaNirbhar Bharat Abhiyaan and Union Budget 2021-22 towards developing a vibrant manufacturing sector and infrastructure acknowledges strong linkages they have with rest of the sectors, he said in his keynote address at the Bombay Chamber of Commerce and Industry.
Das said the Production Linked Incentive (PLI) Scheme aims to make India an integral part of the global value chain. This along with reforms in labour market can go a long way in propelling growth to an elevated trajectory for the manufacturing sector and reap its employment potential.
Coimbatore (Tamil Nadu) [India], February 25 (ANI): Prime Minister Narendra Modi on Thursday said the government wants to bring a paradigm shift in the agri sector with initiatives such as Kisan Credit Cards and crop insurance scheme.
Read more about Manufacturing, MSMEs spearheading economic growth: RBI Governor Das on Business Standard. Mumbai (Maharashtra) [India], February 25 (ANI): The manufacturing sector and micro, small and medium enterprises (MSME) are spearheading economic growth in the country after the outbreak of Covid-19 while many contact-intensive services sub-sectors