Reduce our appetite for gold: PM

Aug 30, 2013

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New Delhi: Under attack in Parliament over the sliding rupee, Prime Minister Manmohan Singh made a statement on India's economic condition in Lok Sabha on Friday.
Highlights of his speech:
Current account deficit a major cause of concern, says PM
Unexpected external factors led to rupee slide
Manmohan Singh says we need to reduce demand for Gold and oil
Assure all govts not thinking of capital controls
Recovery in Us economy hits many currencies
Exchange rate matter of concern
Syria, Fed tapering have caused weakness in market
Growth will pick in the second half of the fiscal year
Stabilisation process to check rupee slide
We intend to reduce CAD
Efforts to make framework friendly for investors

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