look news india
Reserve Bank of India Governor Shaktikanta Das said on Thursday that despite global challenges, the Indian economy is growing smoothly. Speaking at an event, Das declined to comment on Union Commerce Minister Piyush Goyal’s recommendation to cut interest rates.
He said that the MPC meeting in December will take appropriate decisions in this regard. It is noteworthy that the inflation rate in the month of October was more than the RBI target of six percent. On this issue, Das said that despite fluctuations in inflation from time to time, there is still hope for its decline. The RBI Governor said the country’s economy has performed well and shown resilience despite prolonged turmoil. He said that although there are still many headwinds in the global economy, financial markets remain strong.
Das’s opinion on rupee’s low level
According to RBI Governor Das, the Indian economy is progressing well due to strong macroeconomic fundamentals, stable financial system and strong external sector. Commenting on the rupee hitting a new low against the dollar, Das said India’s external sector has shown strength and stability in recent times. Current account deficit i.e. CAD is created at the management level. Apart from this, there has been an increase in the export of many goods while there has also been a significant increase in the export of services.