Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Urjit Patel A Competent Economist, Says FM Arun Jaitley

Calling Urjit Patel a "competent economist", Finance Minister Arun Jaitley on Monday expressed hope that as the next RBI Governor he will be able to contain inflation and contribute in country's economic growth

Photo Credit : PTI

1471712742_PnImOr_urjitpatel3.jpg

Calling Urjit Patel a "competent economist", Finance Minister Arun Jaitley on Monday (22 August) expressed hope that as the next RBI Governor he will be able to contain inflation and contribute in country's economic growth.

The government has named Patel to succeed Raghuram Rajan as the next Reserve Bank of India Governor for a three-year period. He will replace Rajan on September 4.

"Dr Patel is a competent economist, a monetary economist.

He has worked in various capacities in RBI. I believe that he will be able to contain inflation with Monetary Policy Committee to assist him. He also contribute to country's economic progress," Jaitley told TV news channel 'Aaj Tak'.

Patel has been holding charge of the monetary policy decisions of the central bank.

The government has notified monetary policy framework agreement under which RBI will target to contain inflation at 4 per cent with an upper and lower tolerance band of 2 per cent.

The six-member monetary policy committee will decide on interest rates based on this inflation target. P

On Rajan, Jaitley said there were no differences between the outgoing Governor and the government, and the relations were cordial.

The Finance Minister said Rajan has done his job well.

(PTI)


Tags assigned to this article:
urjit patel arun jaitley rbi governor inflation