Revived reforms will fight tapering economy: Mayaram

Government's objective always is to incentivise growth, he says

Bs_logo
Arvind Mayaram
ANI New Delhi
Last Updated : Sep 20 2013 | 2:08 PM IST

Finance Secretary Arvind Mayaram has said the need of the hour is to increase reforms to counter a tapering Indian economy.

Interacting with media here, Mayaram said: "Tapering (of the Indian economy) will happen someday. So, therefore, I had also earlier said we will need to continue to strengthen the economy through a deepening of reforms, and, that is something which the government has been doing. Large numbers of decisions have been taken which are structural reforms."

"The government's objective always is to incentivise growth. So, whatever incentivises growth, is something that the government would really hope for. But ultimately, it is the decision that the governor will take, considering the macroeconomic situation, and then, we will need to see what..." added Mayaram.

Of late, the Indian currency had experienced a plummet of reaching over 68 rupees at par with the US dollar which in turn affected the Indian economy.

Coupled with these developments, the surging price of crude oil too had prompted the government owned petroleum companies to hike the retail price of petrol, diesel and natural gas products.

All these contributed to unbearable inflation for the common man.

Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 20 2013 | 1:41 PM IST