Will work to understand all perspectives, do what's best for economy: RBI Guv-designate
The Hindu
Sanjay Malhotra, the new RBI Governor, aims to navigate the Indian economy through slowing growth and high inflation challenges.
Revenue Secretary Sanjay Malhotra on Tuesday (December 10, 2024) said he will work to understand all perspectives and do what is best for the economy after he takes charge as the RBI Governor on December 11.
Watch | Who is Sanjay Malhotra, the next RBI chief?
Responding to reporters' queries outside the Finance Ministry, Mr. Malhotra said, "One has to understand the turf, all perspectives and do what's best for the economy."
Mr. Malhotra, 56, who is currently the Revenue Secretary in the Ministry of Finance, was on Monday (December 9, 2024) evening named by the government to succeed Shaktikanta Das as the governor of the central bank.
A 1990-batch IAS officer of the Rajasthan cadre, Mr. Malhotra, has more than three decades of experience in public policy with expertise in areas like power, finance, and taxation.
He takes guard at a time when the Indian economy is faced with the dual challenge of slowing growth rate and high inflation.
While Mr. Das kept benchmark interest rates unchanged for almost two years in a bid to control inflation, the incoming Governor is said to be a team player who believes prices cannot be managed by the Reserve Bank of India (RBI) alone and the task needs government help as well.
Presently, the problem facing India’s economy is not the lack of growth; the problem lies in its inequitable distribution across the population, partly induced by food price inflation
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