BUSINESS

RBI chief Rajan wants focus on sustainable growth

Markets, Viewed [ 143 ] , Rating :
     
Rashmi, Star Live 24
Wednesday, November 19, 2014
Published On: 12:12:43 PM
Comments
 India will focus on sustainable economic growth and developed economies should do the same, Reserve Bank of India Governor Raghuram Rajan said on Tuesday.

The RBI is under corporate and government pressure to bring down interest rates and boost economic growth.

"We have to make sure that across the world we focus on sensible, sustainable sources of growth," Rajan told reporters in Mauritius on Tuesday. 

"Developing countries understand that very well ... It is something that Mauritius is trying to do, it is also something that India is trying to do. It is something that even the developed world has to realise it has to do."

India`s economy has grown at less than 5 percent for the last two years. It picked up some momentum to grow 5.7 percent in the June quarter, but this is still way below the near double-digit growth last seen in 2008.

Finance Minister Arun Jaitley suggested on Monday the bank could consider a rate cut, noting slower inflation.

However, Rajan has been focussed on achieving 6 percent inflation by January 2016 and most analysts do not expect a cut when he makes his next policy annoucement on Dec. 2. Rajan has often emphasised that sustained economic growth requires inflation to fall and stay low.

India`s consumer price inflation slowed to 5.52 percent in October on lower food and fuel prices, but is expected to inch up after December as comparisons become less striking.

"Lots of work to do to get India back on a strong growth path. The government has been putting together a series of reforms which I think cumulatively amount to big reforms. The central bank is putting together reforms. My sense is we will do what it takes," Rajan said.
(z)

Other Videos


Janata Parivar Wedding: PM Narendra Modi ‘showstopper’ at Saifai

Janata Parivar Wedding: PM Narendra Modi ‘showstopper’ at Saifai
PM Narendra Modi flags off Arunachal-Delhi AC express train

PM Narendra Modi flags off Arunachal-Delhi AC express train
Milestone achieved by RML hospital,saved 2 lives

Milestone achieved by RML hospital,saved 2 lives
New launch for Specials at Pragati Maidaan,New Delhi

New launch for Specials at Pragati Maidaan,New Delhi
Jitan Ram Manjhi Blinks, Resigns as Bihar Chief Minister

Jitan Ram Manjhi Blinks, Resigns as Bihar Chief Minister
Cricket World Cup 2015: Coach backs Vernon Philander to impress on MCG debut

Cricket World Cup 2015: Coach backs Vernon Philander to impress on MCG debut
Jobs, Jobs, Jobs Please: Jamal Mecklai's Message for Jaitley

Jobs, Jobs, Jobs Please: Jamal Mecklai's Message for Jaitley
OPPO R5 Gilded Limited Edition to be available in India soon

OPPO R5 Gilded Limited Edition to be available in India soon




 Comment Note: By posting your comments in our website means you agree to the terms and conditions of www.StarLive24.tv
More From This Section
  • Sahara Chief Subrata Roy Seeks More Time..
  • Coal India Slips Over 3% On Reports Of F..
  • SBI To Raise Rs 15,000 Crore Via Public ..
  • Buy' Bharat Electronics; Target Price At..
  • Tax Trouble Returns To Haunt Flipkart, O..
  • Infosys Q3 Profit Up 13 Per Cent, Beats ..
  • Why SBI Shares Have Hit A 3-1/2 Year Hig..
  • Spicejet Cuts Q2 Losses After Filling Mo..
  • WPI Inflation At 5-Year Low: Four Reason..
  • Rupee Falls 8 Paise Against Dollar
  • Raghuram Rajan Keeps Promise, Speaks In ..
  • Petrol, Diesel Prices Hiked By Rs 1.50 A..
  • Petrol, Diesel Prices Hiked By Rs 1.50 A..
  • RBI Mandate Forces Uber To Introduce Wal..
  • Gold, Silver Extend Losses On Weak Globa..


Related Search
  • Automobile
  • Economy
  • Interview
  • Markets


> >

1/4

Most Viewed

Coal India Slips Over 3% On Reports Of Further 5% Stake Sale