Q: Does industry feel that the Reserve Bank of India has crimped growth?
A: Actually, it's not the Reserve Bank alone. The economy is in the present situation partially because of extreme monetary tightening and partially because the government is unable to take fiscal initiative. In the current situation, oil prices have softened over time and inflation has not gone up. So there is headroom, according to a Reserve Bank deputy governor, to improve liquidity in the banking system and to lower interest rates at the same time. But it has been suggested that government also take fiscal decisions.............
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