India’s economic growth will pick up to 6 percent in the current financial year, said Finance Minister P Chidambaram, adding that the government is largely responsible for putting the economy back on a more stable footing.
“I’ve done more heavy lifting in the last 12 months than the RBI [Reserve Bank of India],” Chidambaram told CNBC on the sidelines of the Asian Development Bank’s annual meeting in Kazakhstan.
Reserve Bank of India Governor Raghuram Rajan has received much acclaim for restoring financial stability and regaining investor confidence following an unprecedented capital flight during the summer of 2013, which was triggered by concerns over the Federal Reserve scaling back its monetary stimulus.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.