Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday said that the consumption demand is resuming, which will get a further boost in view of the recent cut in excise duty and value added tax States.

Das, who was speaking at the SBI Banking and Economics Conclave, said the current trend of investment-led recovery can get a further boost if public expenditure plays a major role. Urging banks to improve their capital management process, Das said that banks should be investment-ready when the investment cycle picks up.

The RBI Governor said India has emerged as a top performer in the startup landscape, and has the potential to grow at a reasonably high pace in a post-pandemic scenario. “Numerous indicators suggest economic recovery is now taking hold,” he said. /BI/