Finance Minister Arun Jaitley on Tuesday sought to dispel the impression that he had taken on RBI Governor Raghuram Rajan on interest rate saying he had only suggested steps to boost India's manufacturing capabilities.
Referring to media reports of his speech on Monday purportedly critical of Rajan, he said in a Facebook post, "there was not a single sentence reference (not even a word) in my entire speech (at the Make In India workshop n Monday) on either the Reserve Bank or its Governor". "What is reported is a speech that I did not deliver. The reports indicated that I had spoken on the Reserve Bank, its Governor and voiced differences with them," he said. On Monday Jaitley had stated that high cost of capital was "singular factor which has contributed to slowdown of manufacturing growth itself."