The Preconditions To Rupee Float

Outlook News Desk

Updated on: 7 February 2024 7:33 pm

Updated on: 7 February 2024 7:33 pm

The Preconditions To Rupee Float

The Preconditions To Rupee Float

Gross fiscal deficit has to reduce to 3.5 per cent of GDP by 1999-2000.

A consolidated sinking fund to be set up to meet government's debt repayment needs

Parliament has to give RBI a mandate to keep inflation between 3 and 5 per cent

RBI has to withdraw from primary government borrowing programmes; government has to set up its own public debt office

Interest rates have to be fully deregulated

Growth of weak banks to be curbed

Bad debts of banks have to be brought down from 14 per cent now to 5 per cent

Debt service ratio has to be brought down from 25 to 20 per cent of GDP

Published At: 9 June 1997 12:00 am

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