Apart from development and inflation, authorities are additionally engaged on the administration of the rupee and retaining the fiscal steadiness: Seth
Apart from development and inflation, authorities are additionally engaged on the administration of the rupee and retaining the fiscal steadiness: Seth
Monetary and financial authorities are taking steps to average inflation and push development, Department of Economic Affairs Secretary Ajay Seth mentioned on Wednesday.
His feedback got here within the backdrop of Reserve Bank of India (RBI) rising the important thing rate of interest by 50 foundation factors with an intention to tame inflation. The central financial institution additionally raised inflation projection to six.7% whereas sustaining the expansion estimate at 7.2% for the present fiscal.
“There are domestic challenges and larger ones are there in the global scenario. Whatever it takes for monetary and fiscal authorities, those actions are being taken. We (are working) to moderate the inflation (and) at the same time keep the growth efforts as earlier,” Mr. Seth advised reporters.
He was responding to questions on the RBI’s resolution on the rate of interest entrance.
Mr. Seth mentioned that other than development and inflation, the authorities had been additionally engaged on the administration of the rupee and retaining the fiscal steadiness. Both financial and financial authorities had been working in direction of that objective, he added.
“There cannot be any copybook solution. As new information emerge, they are analysed and whatever it takes to meet those challenges, those measures will be taken,” he added.
Source: www.thehindu.com
