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US sanctions on Iran unfavourable for India, says Srinivasan

Press Trust of India  |  New Delhi 

Eminent US-based T N said the decision of to impose sanctions on will have unfavourable impact on as well as global environment.

US has recently announced that will withdraw from the landmark 2015 accord to curb Iran's nuclear programme and reinstate financial sanctions on the nation.

"Current economic situation, although favourable, is dependent on external economic climate.

"The US decision to pullout the agreement with and threat to reimpose earlier sanctions on in a more stringent (manner), even if and other powers do not follow the US, is unfavourable (for) global and Indian economic prospects," Srinivasan, the Samuel C Park Jr of Economics at Yale University, told in an interview.

He further said that should concentrate on completing its reform agenda, including importantly making a federation.

Replying to a query related to the recent banking frauds, including the Rs 13,000 crore one at (PNB), the eminent said there is no doubt selling a significant part of the public sector bank's assets is an urgent task.

Referring to crisis in farm sector, said debt-melas and debt-mafis are no solutions to the farm sector problem.

"Attending to the problems of irrigation, fertiliser and markets and prices in a comprehensive and interrelated way is neeeded," he stressed.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, May 13 2018. 10:05 IST