RBI very well prepared to deal with US Fed rate action: Jayant Sinha

• India will be able to weather the impact of any increase in interest rates by the US Federal Reserve with its “multiple layers of defence”, minister of state for finance Jayant Sinha has said.
• Sinha said the goal of policymakers in India is to strengthen economy to ensure that asset and financial markets move in an orderly, smooth and predictable manner.
• The minister also expressed hope that Employees’ Provident Fund Organisation (EPFO) will bring up its equity investment to 15 per cent, which will help lower volatility in equity markets.
• Sinha said the government wants to build India’s productive capacity, so that it can sustain 8-10 per cent noninflationary GDP growth rate steadily through boom and bust cycles.

Source: ET