In a bid to generate jobs for youths
in J&K, Governor NN Vohra Thursday discussed the formulation of an employment plan with eminent economist C Rangarajan to deal with unemployment problem in the state.
The Prime Minister’s Economic Advisory Council chairman, C Rangarajan, on Monday suggested that the Reserve Bank of India could reduce money supply and raise the interest rate to tame the rising prices of food articles.
The "most appropriate" timing for a gradual rollback of the fiscal stimulus package would be the next financial year, Chairman of the Prime Minister`s Economic Advisory Council C Rangarajan said on Wednesday.
The Prime Minister’s economic panel on Thursday said the government and the RBI will have to slowly withdraw the stimulus packages given during the slowdown once the economy begins to show surer signs of recovery.
The government`s high borrowings may not push up interest rates sharply towards the end of this year and are likely to hover around the current levels, Prime
Minister`s Economic Advisory Council chairman C Rangarajan said.
Former Reserve Bank Governor C Rangarajan has said the massive borrowing programme of the government would have implications for the corporate world in the next fiscal and might lead to "crowding out" of capital from the market.