RBI Deputy Governor K C Chakrabarty says, it is unfair to blame the central bank for low growth. Addressing students of a management school in Mumbai today he said the basic complaint against RBI is that it is killing growth by keeping interest rate high.But, he said, people forget that interest rate is high because inflation is high and inflation is high because people are not working. For inflation to come down, more food grains should be produced at less prices, he said. His comments come amid criticism from some quarters that it is giving priority to price rise issues over growth.
News On AIR | October 5, 2013 7:27 PM
Blame high inflation, not RBI, for killing growth: Deputy governor<br/>