| Date: |
23-06-2010 |
| Subject: |
RBI Should Act To Curb Inflation: Ex-chief |
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Chairman of the Prime Minister’s Economic Advisory Council and a former governor of Reserve Bank of India C. Rangarajan says inflation level has reached an uncomfortable level and some action from the RBI is needed to prevent the situation from deteriorating.
Speaking on the sidelines of a function at the University of Hyderabad on Tuesday, he said apex bank should decide on the timing. But, some action was, indeed, needed, he felt.
On fiscal deficit, Rangarajan said, it could be somewhat low than what was expected, when asked whether there would be any case for a lower fiscal deficit in view of the huge revenue generated from the recent auctions of 3G and broadband spectrum.
Rangarajan was earlier conferred an honorary doctorate by the University of Hyderabad.
Source : Daily Markets
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