Newdelhi: The Prime Minister has ruled out reversal of globalization of the Indian economy or India witnessing a repeat of the 1991 balance of payments crisis. He called for new thinking on the Reserve Bank’s monetary policy.
Dr. Singh said this to reporters on the occasion of release of the fourth volume of “RBI History-Looking Back and Looking Ahead ” in New Delhi yesterday. Dr. Manmohan Singh favoured revisiting the possibilities and limitations of the monetary policy.
Dr. Singh lauded the RBI’s role in shaping the country’s monetary policy. He said, the Apex bank has served the nation with great distinction and that the best is yet to come.