Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
Das said the measures, which got adopted with deep rate cuts, have also ensured faster transmission of the policy rates into the actual lending by banks, in turn helping the economy.
The infrastructure space, he said, could act as a force multiplier for the economy, adding that a big push to certain targeted mega projects can 'reignite' the economic growth.
'We have managed to put economies into a coma, but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life,' Rajan noted.
The RBI Governor also added that COVID-19 is the worst health and economic crisis in the last 100 years with unprecedented negative consequences.
The RBI Governor met managing directors and chief executives of credit rating agencies (CRAs) through video conferencing.
Rs 65,000 crore needed to feed poor; India needs to be smarter in lifting lockdown: Rajan tells Rahul
Former RBI Governor Raghuram Rajan said that there should be efforts to give money to the poor through DBT, MGNREGA, old age pension and also supporting through PDS.
Friday’s measures, combined with Rs 2.8 lakh crore (1.4% of GDP) infused by RBI into the system through various instruments since February, has taken the liquidity equivalent to 3.2% of the GDP
'Appreciate @RBI @DasShaktikanta's reassuring words on financial stability,' she said.
According to reports, most analysts expect the RBI to cut interest rates and announce other liquidity support measures.
The RBI would soon issue draft guidelines on corporate governance in public and private sector banks, Shaktikanta Das said.
Retail inflation based on CPI soared to a near six-year high of 7.59 per cent in January, surpassing the Reserve Bank of India's comfort range.
Das said the extent of the impact of coronavirus is still uncertain and unfolding, as he made a case for preparing a contingency plan to deal with the situation and its impact on the economy.
The central bank governor has called for prioritising food processing industries, tourism, e-commerce and start-ups sectors.
Das said RBI is striving to be transparent in its decisions and clearly communicate and also give forward guidance as it has done since February.