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RBI Blames Govt of Policy Stasis

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It is not just the Opposition that feels the government is in the grip of a policy paralysis. The RBI has said “concerns over policy Stasis.” must be addressed as “newer risks” to growth emerge from slowing global trade, domestic supply blocks and a slack monsoon.

The central bank said reviving investor confidence will need steps to improve the decline in investment that is proving to be a “major drag” on the economy. Growth risks in 2012-13 have amplified in the context of domestic and global conditions. The investment climate is flat.  RBI told Parliament’s standing committee on finance that the first quarter of 2012-13 remained weak while the services sector took a hit too. “Services growth is also showing signs of slowing in line with slowing industrial growth and weak global economy,” the central bank said.

“Revival of investor confidence needs to be supported by addressing concerns over policy stasis, while putting in place complimentary actions that address macro-economic weaknesses,” the bank said.

Read – How to revive India’s Economy.




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