FM Nirmala Sitharaman: RBI seeks to stabilize rupee value fluctuations
Union Finance Minister Nirmala Sitharaman announced that the Reserve Bank of India (RBI) is implementing measures to prevent sudden fluctuations in the rupee's value. Speaking in Tiruchirappalli, Tamil Nadu, she clarified that the RBI does not set the currency's value but aims to stabilize it amid concerns over currency volatility affecting the economy. Sitharaman also addressed the declining fiscal deficit and the government's goal to reduce the debt-to-GDP ratio to 50 percent by 2030, while acknowledging external factors contributing to inflation. She highlighted ongoing efforts to monitor essential prices and protect domestic consumers through calibrated export restrictions.
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