Support from all sides needed to nurture economic recovery: RBI Guv

TIL Desk/Business/Mumbai/ Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides — fiscal, monetary and sectoral — to nurture recovery of the economy hit by the second wave of the coronavirus pandemic.

The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month.

“Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides – fiscal, monetary and sectoral – is required to nurture recovery and expedite return to normalcy,” Das said, as per the minutes of the meeting released on Friday.