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finance-minister-jaitley-rejects-raghuram-rajans-criticism-of-make-in-india

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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BSE closes points 33.17 up on Dec 26

Trading at the Bombay Stock Exchange today closed 33.17 points up to stand at 27,241.78. At the National Stock Exchange the Nifty closed 26.60 points up to stand at 8,200.70. UNIONBANK and AJANTA PHARMA LTD. were among the top gainers of Group A with an increase of 5.65% and 5.26% along with BAYER CROPSCIENCE LTD. and SYNDICATE BANK with an increase of 5.03% and 4.93% respectively, while the top losers of Group A include RASOYA PROTEINS LTD. and GSFC with a decrease of 4.49% and 3.87% along with OBEROI REALTY LTD. and JUBILANT with a decrease of 3.60% and 3.13% at the close of the markets. The Auto sector is down 7.42 points at 18,455.13 while the banking sector is up 26.66 points at 21,253.30 and the reality sector is up 14.09 points at 1,533.94. The Indian currency is up 0.13% at Rs 63.60 per dollar. Dec 26, 2014
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