Ahead of monetary policy review on Tuesday, Reserve Bank Governor Raghuram Rajan today called on Prime Minister Narendra Modi and is likely to have discussed the macro-economic situation and issues related to price rise.
The RBI’s bi-monthly policy review on June 3 will be the first after Prime Minister Narendra Modi assumed office on May 26.
last week, Rajan also met the newly appointed Finance Minister Arun Jaitley and had said fighting price increase is a priority, stressing that the central bank has always maintained a balance between the need to check inflation and prop up growth.
“Governor of the Reserve Bank of India (RBI) Raghuram Rajan called on Prime Minister Shri Narendra Modi at 7, Race Course Road today. It was a courtesy call,” an official statement said. India’s economic growth stayed below 5 per cent for the second year in a row at 4.7 per cent in 2013-14. Growth remained subdued at 4.6 per cent in the fourth quarter.