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MUMBAI: ET NOW, a 24-hour English business news channel brings you an exclusive interview with the Honourable Finance Minister of India, Pranab Mukherjee. In his most candid interview to ET NOW, the FM shares his outlook on the growth prospects of the Indian economy, expected growth in the current year, FII‘s inflows into the booming Indian stock markets, exporters‘ worries against dollar deluge and a continuing fear of a bubble.
He reassured that the economy is expected to clock a growth of 8.5 percent in the current financial year. Although, inflation still remains a major concern he is very hopeful that prices will moderate after the festive season.
According to him with the increasing inflow of FII funds and the Indian markets touching new highs, the sentiment is positive. Although, he added that one needs to keep a close watch on the situation and see that it doesn‘t have an adverse impact like the bubble effect.
He mentioned that there is no necessity to restrict these FII inflows into the Indian markets as he doesn‘t visualize a sudden substantial outflow which can create an essence of uncertainty. Also, all the three regulators namely the SEBI, RBI and the finance ministry are keeping a keen watch on the stock markets and FII inflows and will intervene as and when required.
Although with the exporters are very skeptical & concerns been raised that they will lose their competitive edge with the dollar deluge pushing the Indian Rupee to a 5-month high, the FM is convinced and confident that there is no need of intervention in the rupee market right now.
So stay tuned to ET NOW to catch the exclusive interview with the Finance Minister - Pranab Mukherjee on Friday, October 8 at 6.30pm.
