Government will boost exports to check widening current account deficit: Arun Jaitley
Arun Jaitley
Will take measures to cut down non-essential imports to curb the expanding current account deficit: Jaitley
Union Finance Minister Arun Jaitley on Friday stated that the government will take necessary steps to cut down non-essential imports to curb the expanding current account deficit (CAD), news agency ANI reported.
According to reports, Jaitley also said that the government will boost exports to check the widening CAD.
Prime Minister Narendra Modi on Friday held a meeting which was attended by the RBI governor, deputy governor, officials from the finance ministry and Prime Minister's office.
"In the meeting, the RBI governor gave a detailed presentation on the condition of world's economy and external factors which can affect Indian economy," Jaitley stated.
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Jaitley further added that India's growth rate "as compared to other countries of the world is quite high". "Inflation in our country stays in a range and that range is moderate," Jaitley stated.