The recent news of Indian financial issue is, the finance minister Chidambaram announced a quarterly monetary policy review on Tuesday. For this he committed that, the total fiscal deficit, or gross borrowings of the level of 5.3% of GDP but in further it reduce to 4.8% to 2013-14.He said that, before taking any kind of decision everybody should learn the statement. Arvind Mayaram, the economic affairs secretary, now is in RBI court due to some regulatory rules. Vijay kelkar said that fuel subsidy revamp) is not part of the recommendation we have accepted right now. Again in the of the mid of September 17, RBI lower the case of CRR (case reserve ratio).
More recently, one of the finance company recommended that, the empowered regulatory can come from Govt. source. During this issue many are having different comments like according to Joseph Stiglitz, India and China both the countries are limitated no of regulatory Independence, according to Anshu Jain, Deutsche Bank’s co-CEO, all world is dependent of the bankers and politician are of strong role in that. The design of regulatory independence offered a lot of moral to the development objective.Tags: Economic Affairs, Monetary Policy