RBI Governor Shaktikanta Das
‘In the context of the world economy returning to normal after the third wave of corona spread, new challenges have arisen due to the sudden Ukraine-Russia war; As a result, the world is facing a serious food and energy crisis,” Reserve Bank of India (RBI) Governor Shaktikanta Das said on Saturday.
The annual meeting of RBI’s Department of Economic and Policy Research was held in Hyderabad on Saturday. In this, Shaktikanta Das gave the opening speech. He said:
The Corona pandemic created an opportunity to explore and use big data. Likewise, the analysis has led to problems and challenges in policy making.
During the first wave of the Corona outbreak, the gap in data collection and statistics was seen as a primary challenge. In the second wave, which was more risky, sectoral data collection played an important role in making policy intervention decisions.
As the world economy was recovering from the effects of the third wave after that, the sudden outbreak of war on the European continent brought new challenges. Because of this, the world is facing a serious food and energy crisis.
Volatility in essential commodity prices and supply chain disruptions have led to an increase in global inflation. Due to the spread of Corona, the war in the European continent, and the existence of financial policies in all the countries of the world, there have been various challenges in economic analysis since March 2020. Shaktikanta Das said that RBI’s research department should be prepared to deal with the effects of the above 3 situations.