The minister appreciated the contribution of Reserve Bank of India governor Raghuram Rajan
GN Bureau | June 20, 2016
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.
Snakes, Drugs and Rock ’N’ Roll: My Early Years By Romulus Whitaker with Janaki Lenin HarperCollins, 400 pages, Rs 699
The Moral Contagion By Julia Hauser and Sarnath Banerjee HarperCollins, 140 pages, Rs 699 The world has lar
Addressing the Viksit Bharat Viksit Uttar Pradesh program in Lucknow on Monday, prime minister Narendra Modi launched 14,000 projects across the state, worth more than Rs 10 lakh crore at the fourth groundbreaking ceremony of UP Global Investors Summit held in February 2023. The projects relate to sectors
During the four days from Feb 16, more than a thousand birdwatchers throughout India are coming together with the goal of documenting as many birds as possible across the country’s diverse locations. Over one lakh birdwatchers globally participate in the annual Great Backyard Bird Coun
The Central Consumer Protection Authority has sought public comments on the ‘Draft Guidelines for Prevention of Misleading Advertisement in Coaching Sector’. The draft guidelines are placed on the website of the Department of Consumer Affairs and are accessible through the link:
In a landmark judgment, the Supreme Court of India has held the anonymous, unregulated and unlimited funding through electoral bonds and companies as unconstitutional. The five-judge Constitution Bench of the Supreme Court comprising chief justice DY Chandrachud and justices Sanjiv Khanna, B