Today's Paper Archive Classifieds Subscriptions RSS Feeds Site Map ePaper Mobile Apps Social
SEARCH

Opinion » Comment

Updated: August 30, 2013 01:37 IST

Growth is key

Surjeet Bhalla
Share  ·   Comment   ·   print   ·  
Surjeet Bhalla, Chairman, Oxus Investments. File Photo
The Hindu Surjeet Bhalla, Chairman, Oxus Investments. File Photo

The diagnosis of the problem by the RBI and the Finance Ministry is completely wrong and counterproductive. It not just the current account deficit.

What you have playing out is that growth has collapsed and that is why investors are not finding Indian assets attractive. If you communicate that there is growth, there is a way out. We are not encouraging investors to invest in India. This is tragic. The only way to attract investment was to focus on economic growth.

People want to sell the rupee; they have lost confidence in policy decisions for a host of reasons.

We must encourage currency swaps with trading partners, especially with the ECB and Great Britain, to bolster foreign exchange reserves.

(As told to Girija Shivakumar)

RELATED NEWS

Stabilise the rupeeAugust 30, 2013

Focus on manufacturing sectorAugust 30, 2013

Reduce subsidiesAugust 30, 2013

Reduce unnecessary importsAugust 30, 2013

Push reforms as in 1991August 30, 2013

Use currency reservesAugust 30, 2013

More In: Comment | Opinion
This article is closed for comments.
Please Email the Editor
More »
The HIndu's in-depth coverage of news and opinion on Aadhar and direct benefit transfers


O
P
E
N

close

Recent Article in Comment

GENERATING POWER: The government will have to collate a clean coal policy with respect to exploration, mining and use. Picture shows coal workers in Dhanbad, Jharkhand. Photo: Manob Chowdhury

Handling the energy crisis

With India consuming high levels of energy, serious efforts need to be taken by the new government to avoid a severe energy supply crunch »