Sunday, April 15, 2012

Current downturn short-term phenomenon, says RBI Governor

....Describing the current downturn a short-term phenomenon, Reserve Bank of India Governor D. Subbarao on Saturday said Indian economy is mature enough to absorb ‘shocks’ and the country’s growth story is intact. “The structure of the economy has changed (since 1991). Our financial markets are more matured, more diverse and much deeper. They have the resilience to absorb shocks,” he said while participating at a panel discussion on India’s economic reforms and development..............

Read - The Hindu

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