State should not be seen as gaining from an oil price rise: Ashima Goyal

The emphasis should be on addressing structural problems raising India's current account deficit (CAD) rather than on financing it in risky ways, says Ashima Goyal

A depreciating rupee and rising crude oil prices recently prompted the government to announce a five-point agenda to encourage dollar inflows. It also plans to restrict certain non-essential imports. Ashima Goyal, member, Prime Minister’s Economic Advisory Committee, tells Joydeep Ghosh that the Reserve Bank of India (RBI) should target inflation and growth, not raise rates to defend the rupee
 
Are the government’s measures sufficient to arrest the rupee's fall?
 
These are mostly measures that will take effect over time. But the announcement of the intent to take action, in itself, should soothe markets. The rupee has now depreciated