 "Rupee has overshot reasonable level: FM")
As Rupee fell further breaching 65 against a dollar today, Finance Minister P Chidambaram said the Indian currency is undervalued and has overshot what is generally believed to be a reasonable and appropriate level.
He said capital inflows will, in due course, correct the position, but maintained RBI's measures were aimed at addressing the volatility and not targetted at a particular level for the rupee.
Addressing the mediapersons, Chidambaram said the government was exploring structural measures to further reduce CAD to sustainable levels and improve capital inflows.
The finance minister assured growth will pick up in Q2 to Q4 on the back of increase in sown area, pace in acceleration of Plan expenditure and clearance of infrastrcture projects.
He said capital inflows will, in due course, correct the position, but maintained RBI's measures were aimed at addressing the volatility and not targetted at a particular level for the rupee.
Addressing the mediapersons, Chidambaram said the government was exploring structural measures to further reduce CAD to sustainable levels and improve capital inflows.
The finance minister assured growth will pick up in Q2 to Q4 on the back of increase in sown area, pace in acceleration of Plan expenditure and clearance of infrastrcture projects.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*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%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
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
SAVE 25%