Breaking News

You are here » Indian-Commodity  :  Top News  :  Jaitley calls for a judicious mix of fiscal, monetary and structural policies to deal with Brexit

22-Jul2016

Jaitley calls for a judicious mix of fiscal, monetary and structural policies to deal with Brexit

Finance Minister Arun Jaitley has underlined the need for a judicious mix of fiscal, monetary and structural policies by major economies to deal with the heightened uncertainty on account of Brexit. Jaitley said that Britain's decision to exit from the European Union has further heightened uncertainty, market volatility and risk-averse behaviour.

Jaitley who could not attend the first annual meeting of the Board of Governors of the New Development Bank (NDB) held in Shanghai, because of the ongoing Parliament session back home, said in a written speech read out by Joint Secretary in the Finance Ministry Raj Kumar that governments, central banks and regulators have to mitigate the pressure of such vulnerabilities through judicious mix of fiscal, monetary and structural policies.

He further said that India is following the approach of 'Reform to Transform' through far-reaching structural reforms. “We have taken several initiatives to boost investment climate and improve the ease of doing business.”

Jaitley outlining the challenges said the current global economic context is far from being robust and is marked by a modest pickup in some advanced economies from their low levels of growth. He also said that decline in growth in emerging markets and developing economies, increased financial sector volatility, and, in general, a downward revision of global growth projections by the International Monetary Fund (IMF) also pose challenges. Meanwhile, India has called for the NDB-set up by the BRICS countries to develop a strong pipeline of projects, with focus on cost-effective energy generation, transport projects that reduce regional inequality and promote inclusive growth, and urban infrastructure projects.


Related News

View all news

Crude oil futures end higher on Thursday

Crude oil futures ended higher on Thursday with marginal gains for the truncated week, as traders weighing near term crude supply and demand prospects. Oil prices took some support with tighter supply......

Turmeric futures trade higher on rising demand

Turmeric futures traded higher on NCDEX as market participants enlarged their holdings on account of rising demand for standing crop in the physical market. Moreover, government procurement in some states......

Coriander futures trade up on restricted arrivals

Coriander futures traded up on NCDEX as speculators built up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions also fuelled the......

Top News

View all news

Lupin seeks more time from commerce ministry to complete project in Indore SEZ

Lupin has sought more time from the commerce ministry to complete its project, with proposed investment of Rs 205.69 crore, in the Indore Special Economic Zone (SEZ). The company is setting up its pharma......

Tata Sponge Iron to shift its registered office to Kolkata

Tata Sponge Iron has decided to shift its registered office from Keonjhar in Odisha to Kolkata, subject to the approval of the members of the company and other regulatory authorities. The company has also......

GVK Power's arms ink pact with ADIA, NIIF

GVK Power and Infrastructure's subsidiaries -- GVK Airports Developer (GVKADL) and GVK Airport Holdings (GVKAHL) have signed a term sheet and exclusivity agreement with Abu Dhabi Investment Authority (ADIA)......