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06-17-2012, 08:56 PM #1
Pranab hopes RBI will re-adjust monetary policyUnion Finance Minister Pranab Mukherjee, on Saturday, said that the Reserve Bank of India (RBI) would take steps to “adjust monetary policy” to address the economic issues — inflation and growth — facing the country, when it would review its monetary policy on Monday.
“The RBI is one of the most respected monetary authorities in the world. I am confident that the RBI will adjust the monetary policy as we are adjusting the fiscal policy,” said Mr. Mukherjee while addressing the Assocham national seminar on ‘Role of banks and insurance companies in the development of financial services and inclusive growth of the country' here.
While admitting that the country was facing slow growth, high fiscal and current account deficits, inflation and negative sentiments, Mr. Mukherjee said that “we are competent enough to face these challenges…. We are a dynamic and growing economy.”
In his first public address in the commercial capital of the country after being nominated as the UPA candidate for the Presidential elections due next month, Mr. Mukherjee said, “Yes, we are passing through a difficult time… That doesn't mean that we can't convert these for our advantage… the Government is doing everything to remove supply constraints.” He also said that the government was aware of the concerns of the international rating agencies and taking steps to address the issues expressed by them....being a human...