RBI Not Responsible For Fiscal Problems: Arun Shourie
  • Elizabeth George
  • Sep 30 2013

September 30: The rupee fall is a consequence of fiscal deficit problems and not the cause, Senior BJP Leader Arun Shourie says. Subsidy growth and populist schemes have bloated the deficit, he says, pointing out that monetary policy is not an instrument to curb food inflation. The government has constantly passed the buck and blamed the RBI, he says, adding that criticism of D. Subbarao was unjustified and orchestrated.