India's economy is likely to grow at 6% or slightly more for the current fiscal year to March 2014, Finance Minister P Chidambaram said on Tuesday.
He said that RBI's steps to curb rupee liquidity are aimed at quelling excessive speculation and volatility in the forex market and should not be read as a prelude to policy rate changes.
"These measures (RBI decisions) should not be read as prelude to any policy rate changes. This has nothing to do with upcoming policy review of RBI...I don't expect banks to increase interest rates as a result of yesterday's measures" Chidambaram said at a press conference here.
The RBI announced measures late on Monday to curb the rupee's decline by tightening liquidity and making it costlier for banks to access funds from the central bank.
Chidambaram also said he hoped parliament would approve the real estate regulator and land acquisition bills in its monsoon session, which is due to begin in the first week of August.
He said that the government has taken a number of measures on the economic front in the last few months. Like, he said many steps have been taken to improve exports and coal and gas production.
He said that government has hiked its investment in the public sector enterprise significantly and has invested Rs 1.15 lakh crore in PSUs in 2012-13.
Chidambaram added that another round of telecom spectrum auction will be held shortly.
On DBT, he said that all LPG consumers will get subsidy in banks accounts through DBT by end of year.
He said that RBI's steps to curb rupee liquidity are aimed at quelling excessive speculation and volatility in the forex market and should not be read as a prelude to policy rate changes."These measures (RBI decisions) should not be read as prelude to any policy rate changes. This has nothing to do with upcoming policy review of RBI...I don't expect banks to increase interest rates as a result of yesterday's measures" Chidambaram said at a press conference here.
The RBI announced measures late on Monday to curb the rupee's decline by tightening liquidity and making it costlier for banks to access funds from the central bank.
Chidambaram also said he hoped parliament would approve the real estate regulator and land acquisition bills in its monsoon session, which is due to begin in the first week of August.
He said that the government has taken a number of measures on the economic front in the last few months. Like, he said many steps have been taken to improve exports and coal and gas production.
He said that government has hiked its investment in the public sector enterprise significantly and has invested Rs 1.15 lakh crore in PSUs in 2012-13.
Chidambaram added that another round of telecom spectrum auction will be held shortly.
On DBT, he said that all LPG consumers will get subsidy in banks accounts through DBT by end of year.
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