Modi govt to impose restrictions on non-essential imports to check rising current account deficit, falling rupee
Prime Minister Narendra Modi (right) with Finance Minister Arun Jaitley. (File)
NEW DELHI: In the wake of the latest rupee depreciation, Union Finance Minister Arun Jaitley on Friday held a meeting with Prime Minister Narendra Modi where they took ‘stock of the economy’. The issue of expanding Current Account Deficit (CAD) was discussed and the government has decided to take necessary steps to impose restrictions on non-essential imports.
Jaitley confirmed that RBI chief Urjit Patel, who was also present at the meeting along with the RBI deputy governor, officials of Prime Minister’s Office and finance ministry in attendance, gave a presentation to the Prime Minister. “The RBI governor gave a detailed presentation about the condition of world’s economy and external factors which can affect Indian economy,” Jaitley was quoted as saying by ANI.
Credit: indianexpress.com