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 Monday

Crude oil futures ended higher for second straight session on Monday amid speculation about a likely drop in demand due to the impact of the US-China trade dispute on global economic growth. President......

Barley futures trade higher on good demand

Barley futures traded higher on NCDEX, as the participants increased their buying due to good demand from beer making industries amid low stocks position due to fall in supplies.The contract for November......

Nickel futures edge higher on improved demand

Nickel futures edged higher on MCX as participants built up fresh positions, tracking improved demand at the spot market. Further, a firming global trend also fuelled the uptrend.The contract for October......

Top News

View all news

Victory Paper, Orient Green Power and HCL Infosystems to see some action today

Victory Paper and Boards India has received approval from its board to start Aluminium Roofing sheet production. The Board decided to purchase Aluminium roofing sheets and manufacturing machines from......

Victory Paper gets nod to start Aluminium Roofing sheet production

Victory Paper and Boards India has received an approval from its board to start Aluminium Roofing sheet production. The company decided to purchase Aluminium roofing sheets and manufacturing machines from......

NTPC discontinues operations at Badarpur Thermal Power Station

NTPC has discontinued operations of Badarpur Thermal Power Station in New Delhi having total installed capacity of 705 MW with effect from October 15, 2018.NTPC is the largest power utility company in......