We respect Raghuram Rajan’s decision: Sitharaman

The minister appreciated the contribution of Reserve Bank of India governor Raghuram Rajan

GN Bureau | June 20, 2016


#Nirmala Sitharaman   #Raghuram Rajan   #banking   #RBI   #Economy  

(Photo: Arun Kumar)

Commerce minister Nirmala  Sitharaman on Monday tried to play down the  controversy regarding RBI governor Raghuraman Rajan’s decision to quit,  saying “government respects his decision”.

“We appreciate his contribution and respect his tenure,” she said.

Raghuram Rajan announced on Saturday that he would not continue to head the central bank after his term expires on September 4.

Talking to members of the Indian Women’s Press Corps (IWPC) here on Monday, Sitharaman said she would not like to add to the speculations that Rajan’s announcement had shaken up the confidence of markets. “Is that a shake up,” she reacted when asked about the fall in sensex.

She however said the government was keenly watching the Brexit –  poll in UK to enable the country to determine if it should continue to be part of the European Union (EU)  – to see  what impact it would have  on exports. She said there were all kinds of analysis on whether the exit of UK from the EU would help India. “Frankly, at this moment, we are only watching the situation.”

Besides, she said, the changing economic situation – shrinking of economies and falling GDP in developing countries like Brazil and oil producing nations like Venezuela – would have a definite impact on the Indian exports.

Sitharaman announced that despite the not-so-good global situation, the Indian startup scenario was encouraging and the government was planning a major meet of the startups and investors in Hyderabad in September.  She admitted that the startups in India were already the third largest cluster in the world even before the advent of the Narendra Modi government.

 She claimed that the Modi government had paid attention to creating incubation hubs like a cluster of colleges. Now the government was working on focusing on creating these hubs in tier two cities.

Also read: India to create a buffer stock of pulses: Nirmala Sitharaman

 

Comments

 

Other News

“The focus area is to minimise pendency, do more quality work”

The functioning of a national commission, be it NHRC, NCSC or NCST, depends on its head. Being the chief information commissioner (CIC), what is your vision for CIC?  And what has been your experience so far? The chief information commissioner and ten informa

CIC’s changing status quo

With the help of Right to Information (RTI), the common man not only has the right to know, but also the right to question those in power. This is the foundation of democracy,” said prime minister Narendra Modi at the tenth anniversary celebrations of the Central Information Commission (CIC)

Do you think the fiscal year should be from January to December?

Do you think the fiscal year should be from January to December?

Will Delhi see the highest ever turnout in the upcoming civic polls?

Historically, voter turnout for local elections has lagged behind state assembly elections and general elections.    For example, a recent report by Janaagraha shows that Surat recorded 40 percent voter turnout in local polls, 30 percent less than state elections

Women sensitized about their rights

 A group of women were sensitized about their rights at a workshop held in the national capital on Saturday. They were informed about the anti-harassment laws and legal provisions to safeguard women inside and outside their workplace.   The workshop – organ

AAP’s uncertain future, irony of being Advani, and an author seeks freedom of speech

The Narendra Modi- Arvind Kejriwal antagonism has always been about two different kinds of populism. While it may not play out in a municipal election, the fact remains that a Kejriwal chastened by Goa and Punjab faces a mid-term test in the municipal elections. For a politician harbouring intentions of



Video

एमसीडी चुनावों में भी मोदी लहर कायम - एग्जिट पोल

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter