India needs to put out fiscal roadmap post Covid: RBI Governor – ET BFSI

India needs to put out a fiscal roadmap post the Covid-19 pandemic, the Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday, according to ET Now.

Das said the government had taken prudent measures to tackle the current situation.

“Once there is a containment of the pandemic, the government will spell out a fiscal road map,” ET Now quoted Das as saying.

He said both fiscal and monetary policy in India were accommodative, and added that the governance of banks and shadow banks are very important.

Earlier this month at the central bank’s monetary policy committee meeting, Das had said India’s GDP for FY21 is likely to contract 9.5 per cent.

Indian economy is entering a decisive phase in the fight against coronavirus, the governor had said, adding that the RBI will maintain an accommodative monetary policy stance for as long as necessary.

RBI’s growth forecast came close to World Bank estimates, which said India’s growth will plunge by 9.6 per cent in 2020-21, reflecting the impact of the lockdown and the income shock on households and small businesses.

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