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Journalism of Courage
India needs to take more fiscal and monetary steps to stimulate demand and credit flows in a slowing economy,the deputy chairman of the planning commission said on Friday.
Montek Singh Ahluwalia said the country was witnessing a decline in exports and investment demand.
Separately,Ahluwalia told a television channel that the RBI could cut the cash reserve requirement (CRR) and interest rates to add liquidity and help revive growth.
“That is certainly an instrument they can use,both CRR and interest rates,” he said in the interview,a transcript of which was published in the Indian Express on Friday.
