RBI Governor D Subbarao has said that deficiency of rainfall is a cause
for worry as it might put pressure on some commodities, Delivering a
lecture in Thiruvannthapuram yesterday,he said that rain shortfall in
parts of Karnataka, interior Gujarat and Rajasthan could put pressure on
oil seeds and pluses, RBI Governor pointed out that there is a 20
per cent deficiency of rainfall in the country and as far as Kerala is
concerned it is 40 per cent.
Rejecting the criticism that RBI is not able to control inflation, he said through tightening monetary policy it succeeded in bring down the inflation rate from 11 per cent to the present level of 7.3 per cent.
Regarding strengthening of rupee, He said various steps were also taken to strengthen the Indian currency against dollars, On the 6.5 per cent growth rate which Subbarao said is the lowest the country recorded in the last nine years. There are many external and domestic factors responsible for it .
Rejecting the criticism that RBI is not able to control inflation, he said through tightening monetary policy it succeeded in bring down the inflation rate from 11 per cent to the present level of 7.3 per cent.
Regarding strengthening of rupee, He said various steps were also taken to strengthen the Indian currency against dollars, On the 6.5 per cent growth rate which Subbarao said is the lowest the country recorded in the last nine years. There are many external and domestic factors responsible for it .
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