Urjit Patel’s Background Makes Him the Right Man for the Job: Government Officials
The government today rallied behind its choice for the Reserve Bank of India governor, with key functionaries saying that Urjit Patel has the right experience to lead the central bank.
“He (Patel) will be able to control inflation rate since he has been looking after the monetary policy,” Minister of State for Finance and corporate affairs, Arjun Ram Meghwal told reporters.
“Patel's appointment is a right decision and in the interest of the country,” Meghwal added.
Minister of State for Finance Santosh Kumar Gangwar echoed the same sentiment, in his interaction with reporters.
I believe Patel will take the economy in the right direction. Even though he is less experienced, I think he will do the job well.Santosh Kumar Gangwar, Minister of State for Finance
Economic Affairs Secretary Shaktikanta Das told reporters that Patel will rise to the occasion considering his background in monetary policy and macro economics. Das added that he expected the new governor to balance inflation and growth objectives.
He (Urjit Patel) will keep in mind the inflation target and the monetary policy. He will also keep in mind the requirements of growth, which is a mandate of the Reserve Bank of India Act.Shaktikanta Das, Economic Affairs Secretary
“He has to ensure flow of credit to various sectors of economy, in particular agriculture and the MSME (Micro, Small and Medium Enterprises) sectors,” Das added.
Patel was appointed as the new RBI Governor on Saturday for a three-year period starting September 5.
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