https://heraldgoa.in/edit/upfront/change-of-guards-…at-the-rbi…/140370
Change of Guards …at the RBI…!!
We have to a bit, look back at the canvas in its totality. We have the unenviable position of our Forex Reserves shrinking by $13 billion (net of valuation effects) (more than 3% of our total reserves), compared to an increase of $21 million in the same period April to September last year, our foreign direct and portfolio investments declined a good 76.5%, our rupee tanked to historical lows of Rs 74/- to a dollar and our GDP numbers in the second quarter slowing down from 8.2% to 7.1% with the infrastructure sectors plunging to new lows of 4.3%, and our promised fiscal deficit figures of Rs 6.24 trillion till March 2019, breached in October itself at Rs 6.49 trillion.
