India has fiscal and monetary headroom to boost demand: Sanjeev Sanyal
by Nidhi Bhati
Addressing the India Global Week, Principal Economic Adviser Sanjeev Sanyal said that India has fiscal and monetary headroom to boost demand. Sanyal added that the government would soon undertake more measures to boost demand. Speaking on reforms, he emphasised that the government is trying to provide cushion for the vulnerable whereas for the small industries government has given 100 per cent guarantee to Rs.3 trillion worth of resources that the banks can lend off. The Principal Economic Adviser also hinted that the Reserve Bank of India (RBI) could further cut interest rates to further boost demand.