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Govt should use funds from RBI to stimulate economy, says ADB chief

The visiting ADB president supported the RBI's approval to the fund transfer and said the country should come up with more such ideas to support growth

Takehiko Nakao, president of ADB, announced  $500 million towards  the Jal Jeevan Mission
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Takehiko Nakao, president of ADB, announced $500 million towards the Jal Jeevan Mission

Indivjal Dhasmana New Delhi
Takehiko Nakao, president of Asian Development Bank (ADB), on Thursday said the government should use the Rs 1.76-trillion payout from the Reserve Bank of India (RBI) for stimulating the economy, but without compromising on the fiscal deficit target of 3.3 per cent of gross domestic product.

The visiting ADB president supported the RBI’s approval to the fund transfer and said the country should come up with more such ideas to support growth. 

“Ideas like transferring of the RBI's surplus capital to India (the government) would help (the growth process),” he said at a press conference. Nakao met Finance Minister Nirmala Sitharaman and

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First Published: Aug 29 2019 | 10:09 PM IST

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