RBI<\/a>) governor Shaktikanta Das on Monday said non-performing assets (NPAs) relating to infrastructure loans of banks have remained at elevated levels. \u201cThere is clearly a need for diversifying financing options,\u201d the governor observed, adding that a big push for mega infrastructure projects can reignite the economy, as in the case of the golden quadrilateral.<\/p>\n\u201cThis could begin in the form of a north-south and east-west expressway together with high speed rail corridors, both of which would generate large forward and backward linkages for several other sectors of the economy and regions around the rail\/road networks,\u201d Das said while addressing the Confederation of Indian industry (CII) national council.<\/p>\n
Emphasisng the need to encourage start-ups, the governor said India can leverage the growing shifts in global value chains and increase its share in these value chains. \u201cPromoting young firms and start-ups will be critical for greater employment generation and higher productivity-led economic growth in India,\u201d he said. Das believes the key challenge for the agriculture sector is surplus management rather than self-sufficiency. \u201cShifting the terms of trade in favour of agriculture is the key to sustaining this dynamic change and generating positive supply responses in agriculture,\u201d he said.<\/p>\n
Das observed the spectacular progress in renewable energy has set the stage for India to scale up the share of renewable energy in total electricity generation to 40% by 2030. These dynamic shifts in renewables could help increase India\u2019s per capita electricity consumption, currently among the lowest in the world, he added.<\/p>\n
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