All parameters are on sound footing: Jaitley

Union Finance Minister Arun Jaitley told presspersons that Prime Minister Narendra Modi was mulling over new steps to further strengthen the economy.

Updated - November 17, 2021 01:06 am IST

Published - August 25, 2015 01:30 am IST - New Delhi/Mumbai

Union Finance Minister Arun Jaitley during an interaction with the media at his North Block office on Monday. Photo: Sushil Kumar Verma

Union Finance Minister Arun Jaitley during an interaction with the media at his North Block office on Monday. Photo: Sushil Kumar Verma

As the stock and currency markets crashed on Monday, Prime Minister Narendra Modi took stock of the situation.

Union Finance Minister Arun Jaitley told presspersons that Mr. Modi was mulling over new steps to further strengthen the economy. “The volatility is not going to be everlasting….but for impact on currency and stock markets, all other parameters of India are on sound footing,” he said.

Earlier, as the rupee sank, RBI Governor Raghuram Rajan too sought to reassure investors that India is better off than other emerging economies. Its macroeconomic factors are under control and the country has $380 billion in forex reserves that can be used to quell rupee volatility, he said.

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