RBI governor Urjit Patel says combined deficit highest among G20 nations
Talking at the Vibrant Gujarat 2017 Summit on Wednesday, the Reserve Bank of India governor Urjit Patel the combined state and central government deficit is among highest in G20 nations.
Urjit Patel is set to brief a parliamentary panel next week 19 on issues concerning demonetisation and its impacts on the economy.
“Our general govt deficit that is borrowing by Centre & state Govts combined, according to IMF data,is amongst highest in G20 nations,” Urjit Patel was quoted by ANI as saying.
We have to ensure that our banks continue to conform to international capital standards as a member of G20 & BCBS: RBI Guv Urjit Patel pic.twitter.com/httaZbjWF9
— ANI (@ANI_news) January 11, 2017
He also said that RBI now has a notified target for inflation of 4%, which 6 member monetary policy committee has been tasked to realise.
Continuing to press ahead for a more fluid and smooth transmission of monetary policy: RBI Governor Urjit Patel.
— Press Trust of India (@PTI_News) January 11, 2017