FreeCurrencyRates.com

इंडियन आवाज़     29 Apr 2017 10:55:07      انڈین آواز

India’s economic growth to make sharp recovery: RBI Governor

AMN /

Urjit patelReserve Bank Governor Urjit Patel today said India’s economic growth will make a sharp recovery following the recall of old 500 and 1,000 rupee notes. In an interview to CNBC-TV18, Mr Patel made a strong case for continuing with globalisation, even in the face of a potential shift to trade protectionism under US President Donald Trump, as India has benefited from open trade.

He said, the remonetisation has happened at a fast pace and that was part of the plan.

RBI last week lowered economic growth projection for the current fiscal to 6.9 per cent from the previously estimated 7.1 per cent, but saw it bouncing back in a big way to 7.4 per cent in 2017-18. Mr Patel said, the benefit of junking 86 per cent of currency in circulation will take time to fully play out and needs more work to ensure they are lasting.

Asked when India could achieve 9 per cent GDP growth, he said it is difficult to predict sustainable growth rates. The six-member monetary policy committee (MPC) headed by Patel had last week kept interest rates unchanged at 6.25 per cent for the second straight meeting and changed policy stance to neutral from accommodative.

FOLLOW ON TWITTER

Ad
Ad
Ad

SPORTS

Pankaj Advani reaches semifinals of Asian Snooker Championship

Top Indian cueist Pankaj Advani reached the semifinals of the Asian Snooker Championship in Doha today. Advani ...

Zero Tolerance policy to eliminate scourge of doping : Vijay Goel

Harpal Singh Bedi / New Delhi Union sports minister Vijay Goel Thursday stressed the need for a Zero Tolera ...

Ad

Archive

April 2017
M T W T F S S
« Mar    
 12
3456789
10111213141516
17181920212223
24252627282930

OPEN HOUSE

NEPAL TRAGEDY: PHOTO FEATURE

[caption id="attachment_30524" align="alignleft" width="482"] The death toll from Saturday's deadly 7.9 magnit ...

@Powered By: Logicsart