FIEO welcomes Shaktikanta Das
New
Governor will
act as an effective bridge
Welcoming
the appointment of Mr Shaktikanta Das as the new RBI Governor, Mr Ganesh Gupta,
President, FIEO said that his previous exposure as Revenue and Economic Affairs
Secretary would come very handy in dealing with vexatious economic issues
confronting the country.
Mr
Gupta said that the new Governor will act as an effective bridge between the
Government and the Central Bank so as to give necessary boost to the Indian
economy. Mr Das would be able to address the concern of the states having
worked in the Finance Commission.
FIEO
Chief hoped that the new Governor will ensure flow of credit to exports sector,
which is declining sharply on year-on-year basis affecting the liquidity of
exporters particularly the MSMEs.
While exchange rate
is market driven, Mr Gupta propagated for RBI intervention to stem extreme
volatility in Rupee as it is neither beneficial for exporters nor importers. A
movement of Rupee in narrow band of 5 per cent would be more appropriate for
export sector as near predictability in rate would reduce the cost of hedging
as well.
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