-
Mar 08, 2013
-
Rate cut is now Reserve Bank of India's call: Chidambaram
Finance minister P Chidambaram said on Friday that the Reserve Bank of India will take a final call on interest rates, but expressed hope that the bank will consider the measures taken by the government to rein in fiscal deficit before taking a decision."On fiscal consolidation path, government has walked the talk. Of course, RBI will take into account not only that, but the overall economic situation and what happens between now and March 19," he said.Chidambaram said that the government has delivered on the fiscal consolidation path chalked out by the Kelkar Committee. "We have remained under 5.3% as promised, and we have shown, next year, we will be at 4.8%," he added.The FM said that the borrowing programme for the next fiscal is an indicator of fiscal prudence the government is adopting. The government on Friday sought the Parliament's approval to spend an additional Rs 49,715.54 crore, primarily to meet the outgo on fuel, fertiliser and food subsidies in the current financial year.
Source -
http://economictimes.indiatimes.com
|