India will be back on high growth track in a couple of years
Updated: Dec 27, 2014 01:07:54pm
New Delhi, Dec 27 (KNN) Reserve Bank of India (RBI) Governor Raghuram Rajan evinced optimism for the country economic growth and said it is a matter of couple of years for India to have high economic growth despite of not so firm situation presently.
RBI Governor further termed the sudden surge in gold imports, and the widening gap as a one off. He asserted that things would return to normal soon with the fall in gold imports. “We are not in a phase of strong growth as yet,” a media report quoted him as saying.
Rajan also said “The RBI cannot 'flip-flop' on rates with every rise or fall in the inflation and would rather wait for a stable low price scenario”.
The Governor also said that RBI was not focusing on falling oil prices as it is not known "how long it’s going to stay low".
The performance of Indian economy this fiscal slipped for the worse, triggering a sense of unease and caution, with investments not reviving even six months after Prime Minister Narendra Modi taking charge of the country in May. Though, it is noticed that the clearance of the projects have become quicker, there is no noticeable new investments, in the light of high debt level of companies. (KNN Bureau)
RBI Governor further termed the sudden surge in gold imports, and the widening gap as a one off. He asserted that things would return to normal soon with the fall in gold imports. “We are not in a phase of strong growth as yet,” a media report quoted him as saying.
Rajan also said “The RBI cannot 'flip-flop' on rates with every rise or fall in the inflation and would rather wait for a stable low price scenario”.
The Governor also said that RBI was not focusing on falling oil prices as it is not known "how long it’s going to stay low".
The performance of Indian economy this fiscal slipped for the worse, triggering a sense of unease and caution, with investments not reviving even six months after Prime Minister Narendra Modi taking charge of the country in May. Though, it is noticed that the clearance of the projects have become quicker, there is no noticeable new investments, in the light of high debt level of companies. (KNN Bureau)
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