Prime Minister Manmohan Singh spoke on depreciation in the value of Rupee in Lok Sabha. PM confirmed that, Rupee will recover and government will control Fiscal deficit. He assured that, RBI and govt are taking steps to stabilise rupee. He affirmed that, some unexpected external factors are leading to slide in rupee. “US federal reserve’s tapering has caused general weakening in global currencies”, said PM. “We need to reduce our appetite for gold, economise use of petroleum products”, he said. He assured that, “Growth will pick up in the second half of the current fiscal. Govt will do whatever is necessary to contain fiscal deficit at 4.8 pc of GDP. Growth in first quarter of 2013-14 will likely remain flat.” He soothed the rupee panic by saying that, macro stabilisation is underway and rupee will recover.
Posted on: Fri, 30 Aug 2013 08:32:08 +0000