Shaktikanta Das on monetary policy
From Shaktikanta Das Speaks On India's Economic Journey Since March 2020 Lockdown | CNBC-TV18 News · · CNBC-TV18
“Our approach, our focus was to reduce the cost of money. So we cut interest rates by the repo rate by 75 basis points. We had to see that the financial markets which it appeared were freezing up... so we decided that liquidity should not be scarce, there should be abundant liquidity. So we announced liquidity infusion measures through long term repo operations, the targeted repo operations through which we injected huge amount of liquidity.”
On , Shaktikanta Das, Governor at Reserve Bank of India, spoke about monetary policy during Shaktikanta Das Speaks On India's Economic Journey Since March 2020 Lockdown | CNBC-TV18 News on CNBC-TV18.
About Shaktikanta Das
Shaktikanta Das, Principal Secretary to Prime Minister Narendra Modi and former Governor of the Reserve Bank of India, delivered several addresses in April 2026 focused on India’s economic resilience and reform agenda. Speaking at the CII Annual Business Summit 2026 and the All India Management Association’s National Leadership Conclave, Das described India’s navigation of recent global crises as akin to a "chakravyuh," where the challenge lies not in entering a crisis but in exiting it without creating new imbalances. He attributed India’s average annual GDP growth of 7.8% between 2021-22 and 2025-26 to targeted fiscal and monetary stimulus that was gradually withdrawn, structural reforms such as the goods and services tax and the insolvency and bankruptcy code, and a policy of strategic self-reliance (Atmanirbharta). Das also highlighted government initiatives including a ₹7,280 crore rare earth permanent magnet manufacturing scheme and a national critical mineral mission, and stated that inflation control benefits the poor by increasing real spending power. Das rejected the narrative that the Reserve Bank’s monetary policy had caused a growth slowdown, citing 7.1% GDP growth in 2024-25 as evidence. He emphasized that India’s growth is anchored in macroeconomic stability, contained inflation, fiscal consolidation, and a resilient financial system, and said there is "no reform complacency" in the government’s pursuit of its Viksit Bharat 2047 vision. At the AIMA conclave, he received a public service excellence award and remarked that resilience maximization is replacing cost minimization as a global priority.