- Reserve Bank of India Governor Raghuram Rajan believes that India was in better shape and plans to fob off clamour for a rate cut.
- He says that Inflation as measured by the CPI in past Financial years showed over 9% but as in this July it is recorded as 3.8%.
- Forex reserves are at a record high of $354.4 billion.
- He say again that taming inflation was essential for sustained long-term growth instead of steroids in the form of lower rates, or an easier liquidity position
- Raghuram Rajan wants to make India’s balance sheet “bullet-proof,” with a lower current account deficit, slower inflation and a better banking system.