Wednesday, May 16, 2012

RBI Adviser: Government Must Raise Fuel Prices

.......The recent frequent market interventions by India's central bank won't arrest the rupee's slide and the government must raise fuel prices to cut the country's ballooning current account deficit, a top adviser to the Reserve Bank of India said Tuesday. The current account deficit is at the heart of India's currency problems, said Sudipto Mundle, a member of the RBI's technical advisory committee on monetary policy.............

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