Published On: Tue, Sep 27th, 2016

Monetary policy panel to meet before Oct 4: Economic Affairs Secretary

Economic Affairs Secretary Shaktikanta Das said Finance Minister Arun Jaitley in his Budget speech stated that interim provisions have been made.

The MPC will, of course, meet before the fourth of October,” Economic Affairs Secretary Shaktikanta Das told reporters.

New Delhi: Economic Affairs Secretary Shaktikanta Das said the new six-member Monetary Policy Committee, which will set interest rates, will meet before the Reserve Bank of India’s (RBI) policy review on Oct. 4 and give their recommendations.

“The MPC will, of course, meet before the fourth of October and the committee will give their recommendations based on which the RBI will take a decision,” Das told reporters on the sidelines of a conference on corporate bond markets.

Last week, the government picked three low-key economists for the committee. The rest of the panel will comprise RBI Governor Urjit Patel and his two senior-most monetary policy officials.

Reuters

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