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.
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“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
AUGUST 12, 2021
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Categories: India News