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Capital controls can't replace macroeconomic policy: Gokarn

Newswire 18 

cannot be a substitute to macroeconomic policies but should complement overall macroeconomic management, Reserve Bank of India Deputy Governor said on Monday at an RBI- “In (the) scenario of high-end capital flows, such measures should complement rather than substitute the appropriate monetary, exchange rate, foreign reserve management and prudential policies,” he said referring to discussions on held by the Group of 20 Nations.

First Published: Tue, November 20 2012. 00:01 IST