Rajan meets Chidambaram ahead of monetary policy review

Tags: News
Ahead of the next monetary policy review next week, Reserve Bank Governor Raghuram Rajan today met Finance Minister P Chidambaram.

Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next monetary policy review on April 1.

India Inc is hopeful this time the RBI will cut interest rates to boost growth, taking into account declining inflation.

The central bank had increased a key interest rate to 8 per cent from 7.75 per cent at its previous monetary policy review on January 28.

The annual rate of inflation, based on the monthly wholesale price index, stood at 4.68 per cent in February, slipping below 5 per cent for the first time in nine months as onion and potato prices eased.

Retail inflation was at a 25-month low of 8.1 per cent in February.

The country's economic growth slipped to a decade-low of 4.5 per cent in 2012-13 and is estimated at 4.9 per cent in the current financial year.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Indian-promoted global corporations must follow accounting best practices

    The international advisory board (IAB) of capital market regulator Securities and Exchange Board of India (Sebi) has suggested that separate governanc

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Cost of education must be controlled

In India, we pay very little attention to the cost ...

Rajgopal Nidamboor

Focus to keep your daily qualms at bay

Philosophers and scientists have, for long, compared the human brain ...

Gautam Gupta

What we can learn from the French fashion scene

It was a pleasure and a treat to experience one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture