Next Sanjay Jog & Abhijit Lele Warning about hard days ahead, Yashwant Sinha, former Union finance minister and chairman of Parliament’s standing committee on finance, says the government should shun populist measures and take tough decisions to rein in the fiscal deficit. In an interview with Sanjay Jog & Abhijit Lele, he was sceptical about foreign visits by the finance minister to attract investments. Excerpts:How does the Indian economy look?The rupee has lost considerable value against the dollar in recent weeks. How does the current situation compare with events just before the crisis in 1991? Image: Yashwant SinhaPhotographs: Reuters Tags: Yashwant Sinha , Yashwant Sinha , Abhijit Lele , Sanjay Jog , US Next Prev Next The rupee is under attack. Should the government and the Reserve Bank take direct steps? The huge current account deficit has been met with hot money from abroad. They (foreign institutional or other investors) will go to markets which offer better returns. FII selling will happen in stock as well as debt segments. Image: A worker counts Indian currency at a money changer.Photographs: Rupak De Chowdhuri/Reuters Tags: FII , FII , Reserve Bank , US , RBI Prev Next Prev … Read full this story
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