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India's economic outlook is better than a year ago, says the new Deputy Governor of the Reserve Bank of India or RBI Subir Gokarn, report media. However, he cautioned on the slower recovery.
Subir Gokarn, who took over as the RBI's deputy governor on Tuesday, will be in charge of monetary policy, economic analysis, statistics and information management, department of communications and Deposit Insurance, as also the credit guarantee corporation. While briefing media in Mumbai, he said that the policy-makers had a breathing space as the economic outlook was far more comfortable.
He said that it was premature to look for normalcy as the recovery mostly depended on specific sectors and was not a broad-base recovery. On inflows, he said, that the flowing of funds is to be monitored as they were flowing into activities that would help the country sustain growth.
He said that RBI was also dealing with other pressures, including inflation, capital flows and implication for reserve- management and liquidity-management.
Gokarn added that the country should be the first to exit from an expansionary policy compared with other countries. The RBI also would ensure that the exit would not impact economic growth.
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