Business

India should resist being too ambitious : Rajan

RBI Governor Raghuram Rajan has said India should restrain itself from being "too ambitious" at a time when the world is full of uncertainties and instead focus on sensible policies to ensure a sustainable economic growth.

"Given great uncertainty about outlook and policies of others in these times, a country like India should try to take sensible measures without getting too ambitious, as we have done so far," Rajan said, delivering the Mahtab Memorial Lecture in Bhubaneswar late last evening.

"This will serve as a sound basis for strong and sustainable Indian growth as the world economy picks up," Rajan, whose remarks comparing the Indian economy with an one-eyed king in a blind world led to a controversy, added.

The Indian government has been working hard to fasten the GDP growth and aspiring to take it to the double-digit mark from the current 7.5 per cent in the medium term.

It has, however, adhered to key targets like the fiscal deficit number and also made inflation-targeting a key objective for the central bank.

Rajan said the world is growing "extremely slowly", with the factors differing from one country to other and termed notions of a de-coupling of growth between industrial countries and emerging markets as "illusory".

"Easy and unconventional monetary policy in industrial countries could increasingly be a part of the problem," the academic-turned-central banker said and reiterated this creates problems around capital flows for emerging markets.

He called central banks around the world to "start thinking more internationally" and stressed on the need to "start discussing new rules of the monetary policy game in the international setting." 
source PTI

Japan at Make in Odisha

Bhubaneswar: Japan will take part in the Make in Odisha Conclave in the Odisha capital in November.A business delegation from Japan gave its consent d...

Rupee continues good run, gains another 16 paise Vs dollar

Mumbai: The rupee firmed up 16 paise to trade at 63.70 against the dollar in the opening session on Friday, rising for a third straight day on increas...

Sensex hits another peak of 35,476.70; Nifty at 10,887.10

Mumbai: The BSE Sensex continued its record-setting spree for a second day, scaling a new high of 35,476.70 in opening trade on Thursday as banking st...

NABARD puts Odisha's credit potential at Rs 71419.85 crore

Bhubaneswar: National Bank For Agriculture and Rural Development (NABARD) on Wednesday projected an overall credit potential for Odisha under priority...