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Business EconomyPosted at: May 26 2016 12:43PM


Good policy is essential to our stability: RBI Governor

Mumbai, May 26 (UNI) The SAARC region had shown continued resilience in the face of turbulent international markets, maintaining its spot as the fastest-growing region in the world, RBI Governor Raghuram
Rajan said today.
In inaugural speech at the SAARCFINANCE Governors' Symposium held here today RBI governor said ''Good policy has been essential to our stability,''.
For India, undertaking a variety of structural reforms to enhance growth; outlining and adhering to a path of fiscal consolidation to reduce the fiscal deficit; containing inflation through a combination of better food management, a new inflation framework and calibrated monetary policies; and embarking on a cleanup of bad
debts in the banking system so as to free bank balance sheets to support growth are elements of what India has practised in the wake of global uncertainties, he said.
The Governor further said that the government’s structural reforms to revive growth, including significant efforts in the agricultural sector to boost productivity through irrigation, insurance, access to markets, a strong push to deregulate business, especially for start-ups, resolve distress in power distribution companies, and an immense effort to expand financial services to the excluded through the provision of bank accounts and direct benefit transfers.
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