New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das said that a coordinated effort needs to be made between the central and state governments to bring down the fuel price. He said that the Center and States should take joint steps in the matter of taxes on petrol and diesel to reduce their price. The RBI Governor was speaking at an event organized by the Bombay Chamber of Commerce.
During this, he said, "Coordinated action is needed between the Center and the states, because taxes are imposed on fuel by both." However, Das also said that there is pressure on both the Center and the states to collect revenue. They have to spend large sums of money to get the country and the people out of the pressure created by the Corona epidemic. He said, 'The need for revenue and compulsion of governments are fully understood. But there is also a need to understand that it also has an impact on inflation. The high prices of petrol and diesel have an impact on the cost of manufacturing production.'
He said that the Reserve Bank is doing a lot of work internally on the digital currency and a progress document will be released soon with a comprehensive guideline. He said that manufacturing sector is working to improve the pace of growth. The MSME sector of the country has come forward as the engine of growth of the economy. The governor also stressed the need for companies to invest more in the healthcare sector.
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