SEPTEMBER 19, 2019
RBI governor Shaktikanta Das advised the government on Thursday to front-load the budgeted spending accounting for the little fiscal space for countercyclical measures to boost growth. The governor was speaking at the Bloomberg India Economic Forum in
The governor, however, called for more structural reforms to cushion the economy from rising global headwinds.
Das maintained that despite rising external risks, the domestic economy is resilient as foreign debt is only 19.7% of the GDP.
With oil marketing companies raising petrol and diesel prices over the last three days in the wake of drone attack on Saudi Aramco’s oil facilities in Abquaiq, the governor said he expects the Saudi crisis to have only limited impact on inflation and fiscal numbers given lower subsidy outgo.
Governor Das said the US Fed’s latest rate cut will boost fund inflows into the country but warned that one must be vigilant about the nature of such funds.
Courtesy/Source: Hindustan Times
