....IMF continues to argue that gradual progress towards an eventually open capital account is still a worthwhile goal, but timing is the key. This comes very close to the position taken by the two committees headed by former Reserve Bank of India Deputy Governor S.S.Tarapore, which argued that India needs to, for example, have a lower fiscal deficit, a stronger financial system and lower inflation before it can open the door wider to welcome inflows of foreign capital. Current policy is going in the other direction, which is a risky course of action.....
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment