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Finance Ministry, RBI to announce certain steps soon: Mukherjee


June 25, 2012 - New Delhi

UPA presidential nominee Pranab Mukherjee, who is all set to quit his office as the Finance Minister, today said his ministry and the Reserve Bank of India (RBI) will soon announce certain steps.

"I think the notifications are going to be issued. In the morning, I discussed with Secretary, Economic Affairs... the Reserve Bank is going to issue the circular as..... He had a discussion with Deputy Governor Subir Gokarn. So, they will announce and let us wait for that," he told media here.

The Finance Minister's remark comes at a time when investors await the measures that are expected to check rupee slide and improve markets.

Asserting that the basic fundamentals of Indian economy are strong, Mukherjee had earlier on Saturday said the government in consultation with the RBI will announce certain measures on Monday to improve the market conditions.

"Governor (of) RBI is outside India. But yesterday, the Secretary, Department of Economic Affairs, had consultations with him. We will be able to take certain measures, which will be announced on Monday, which will improve the market condition," he told the media here.

Mukherjee further said that he is concerned over the signs of weakness in the Indian economy, but not depressed.

"Basic fundamentals of Indian economy are strong and there is resilience of the Indian economy. There has been a positive inflow not outflow. It is around eight billion US dollars. During the calendar year of 2011, there was outflow not inflow. The second point is gross FDI is also more compared to the year of 2010-11," he said.

ANI

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