India News

India recovery not yet at point for pulling back liquidity -finance minister

India’s Finance Minister Nirmala Sitharaman stands next to Minister of State for Finance and Corporate Affairs Anurag Thakur (L) as she leaves her office to present the federal budget in the parliament in New Delhi, India, February 1, 2021. REUTERS/Anushree Fadnavis

NEW DELHI, Aug 12 – Indian economy has not reached the level where the central bank can begin pulling back liquidity as Asia’s third largest economy is still recovering from the shock of two major waves of coronavirus, Finance Minister Nirmala Sitharaman said on Thursday.

Advertisements

IN PUBLIC INTEREST

*Cover your face with masks to prevent transmission of droplets carrying coronavirus
*Exercise social distancing
*Wash your hands frequently
*Sanitize your hands

STAY HOME & STAY SAFE!

 

“I am glad that RBI (Reserve Bank of India) understands that quicker retrieval of the liquidity from the economy may not do the necessary things to win,” Sitharaman said in a virtual conference with industries.

“They have not given any indication about wanting to suck out the liquidity that is available there,” she added.

She said while India will take measures to contain inflation, growth will be a priority in the current environment.Reporting by Manoj Kumar and Aftab Ahmed; editing by Jason Neely

REUTERS

AUGUST 12, 2021

Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/world/india/india-recovery-not-yet-point-pulling-back-liquidity-finance-minister-2021-08-12/

Leave a Reply