Middle-class woes
The Indian middle class, often hailed as the backbone of the nation’s economy, is at a critical juncture.
Reserve Bank of India Governor Shaktikanta Das during interaction with the members of Confederation of Indian Industry (CII) made a strong case for stepping up investments in the infrastructure sector to restart the economy reeling under the impact of the COVID-19 pandemic.
Das, in his address, said both private and public sectors have to play an important role in developing infrastructure that requires huge investments.
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Highlighting that the recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
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India needs policies for a sustained increase in farm income, he added.
Das added that with regard to forex rate, the RBI has no fixed target for the rupee but will monitor undue volatility.
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