India Economy

What They Said

| Updated on November 17, 2012 Published on November 17, 2012

“While fully appreciating the imperative of anchoring inflation, it is the CII’s view that the RBI now needs to intervene and reduce interest rates since a complete sacrifice of growth is not in the interest of the economy.”

CII Director-General Chandrajit Banerjee, on September IIP numbers

“Paying one-time fee is irritating but it will not break our back. The licence renewal is more important for us… I hope the Government sees what happened to the industry in the last three years. There is a need to strike a balance between the interests of the Government, the consumers and the industry. But the interest of the industry is also in the interest of the Government.”

Vodafone India Managing Director and CEO Marten Pieters

“How can it be possible when a large number of people in Odisha do not have bank accounts? The basic objective of the public distribution system to arrest hunger among the poor will be defeated if the beneficiaries are provided cash instead of cheap food.”

Odisha Food Minister P. K. Deb, on plans for direct cash transfer of subsidies to beneficiaries

“Important among these have been the decisions to allow Foreign Direct Investment (FDI) in multi-brand retail and the civil aviation sector and seek legislative approval for increasing the FDI cap in the insurance and pension sectors… Simultaneously, measures have also been announced to keep Government's subsidy burden in check, thereby bringing about a reduction in the fiscal deficit… These measures should help in restoring the economy's growth momentum.”

President Pranab Mukherjee, on steps taken to boost economy

“It is more or less settled that each market should have something which allows it to function in a fair and cost-effective manner. India is practically at the forefront of implementing different types of market structures even within the same stock exchange. This has been basically due to SEBI’s open-minded approach over the last 20 years. It has allowed this in a structured way that people can understand. It is debated and still the risks involved are taken care of on real-time basis. For me, India has practically led the world in terms of market microstructure.”

BSE MD and CEO Ashish Kumar Chauhan

“As a country, we believe in complete independence of the media from external control… It is for the members of the Fourth Estate themselves to collectively ensure that objectivity is promoted and sensationalism is curbed. .”

Prime Minister Manmohan Singh

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