AMN /
India’s Finance Minister Arun Jaitley today said, India was well prepared to deal with short and medium-term consequences of Brexit results.
“our immediate, medium-term firewalls are solid in form of healthy forex reserves. As far as short-term volatility is concerned, RBI is fully prepared to deal with any evntuality”, he said.
He said, the economy was strongly committed to macroeconomic framework with rock solid commitment to fiscal discipline.
Text of Finance Minister Jaitley’s Statement on Brexit outcome
A BBC forecast has suggested United Kingdom last night voted to leave the European Union after 43 years in an historic referendum.
The broadcaster said that London and Scotland voted strongly to stay in the Union but the vote to remain has been undermined by poor results in the north of England. Voters in Wales and the English shires have backed Britain exit from the EU in large numbers.
Meanwhile, Economic Affairs Secretary Shaktikanta Das has said that government is prepared for all eventualities. Speaking to reporters on Brexit referendum, Mr Das said country’s trade, both import and export, are not going to be impacted significantly.
He said, stock market is down on initial spontaneous reaction. Mr Das emphasised Finance Ministry and RBI have discussed all possible eventualities to deal with the situation. He said Rupee depreciation is in line with other Asian currencies.