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New monetary policy soon, says Pranab

Last Updated: Sunday, October 11, 2009 - 00:33

Pune: Finance minister Pranab Mukherjee on Saturday said the government will soon announce new monetary policy after having a discussion with the Reserve Bank of India (RBI).

"I will have discussion with the RBI Governor around Diwali," he told reporters here.
Mukherjee, who was here to campaign for the Congress for the state Assembly elections, hoped the series of fiscal and monetary stimulus given would "produce desired results".

On the outlook for the remaining three quarter of the financial year, the minister said he "expected" the economy to perform better.

"Some indications are available. Foreign Direct Investments (FDI) have substantially increased in the first three months. Industrial production has gone up by two percent in July", he added.
The negative trend in the exports too was showing a decline, the minister noted.

Bureau Report

First Published: Sunday, October 11, 2009 - 00:33

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