 "Govt to take more measures to curb CAD: Rajan")
Amid the widening current account deficit(CAD), Chief Economic Advisor Raghuram Rajan today reportedly told local television channels that the government will continue to take measures to curb the CAD.
He also added that the government does not want the rupee to be volatile.
He also added that the government does not want the rupee to be volatile.
New Delhi will keep taking medium-term steps to ease rupee volatility, Rajan said.
The rupee fell to a record low of 57.76 on Monday on heavy dollar demand, the strengthening US currency against major rivals overseas and after a report showed a reasonably healthy pace of US job creation in May this year.
Rajan had earlier said that the government is also looking to raise FDI caps in various sectors, including defence.
The CAD was at a record high of 6.7 % of gross domestic product in October-December 2012.