Search Results for: Raghuram Rajan

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Finance Minister Jaitley rejects Raghuram Rajan's criticism of 'Make in India'

New Delhi, Dec 29 (ANI): Rejecting Reserve Bank of India (RBI) Governor Raghuram Rajan's criticism on 'Make in India' programme, Finance Minister Arun Jaitley on Monday said that it is about manufacturing of quality products at low cost, whether they are sold in India or abroad. The minister in his inaugural address of a national workshop on 'Make in India' further said manufacturing remains a challenge for country's economy and cost of capital has been the major factor behind slowed down manufacturing. Emphasizing on manufacturing of quality products at low costs, Jaitley said it was not relevant whether they are sold in India or abroad. Chalking out the ways to open up the roads for manufacturers, Jaitley said the entry point into manufacturing sector needs to be eased and that if we keep doors closed, investments won't come in. There should be an ease of doing business in India. Earlier this month, RBI Governor Raghuram Rajan had criticised 'Make in India' campaign, saying it assumes an export-led growth path of China and it should rather be 'Make for India' with a focus on manufacturing products for the domestic market. Dec 29, 2014
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Current account deficit comfortable despite widening: Raghuram Rajan

Kolkata, Dec 12 (ANI): Governor of Reserve Bank of India, Raghuram Rajan said that the RBI was comfortable with the current account deficit (CAD) even after it widened in the July-September quarter. Rajan while speaking at a news conference after the central bank's board meeting in Kolkata city, said risks remain to the current account deficit even though he was not apprehensive about it. Rajan said that gold imports had increased in the country which may have resulted in the increase in the CAD. Global oil prices have fallen to a five-year low on Wednesday. Brent crude oil fell to $63.56 a barrel, the lowest since July 2009, on signs of oversupply and waning demand. Indias largest imports are crude oil and gold. Turning to the economy, Rajan said an interest rate cut won't by itself lead to higher economic growth, although he noted it would have an impact. Turning to limits on foreign investments in government bonds, Rajan said it would look at raising the limit at an appropriate time, and would look at expanding it steadily. Dec 12, 2014
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