The FMCBG meeting will be spread over two days with Union Finance Minister and RBI Governor Shaktikanta Das jointly steering the G20 FMCBG discussions under G20 India's Finance Track priorities, it added.
RBI Governor Shaktikanta Das said, "The situation has shown improvement in Q3:2022-23 (third quarter or October-December) as imports moderated in the wake of lower commodity prices, resulting in narrowing of the merchandise trade deficit."
The RBI governor said net foreign direct investment (FDI) flows remain strong at USD 22.3 billion during April-December 2022. It was USD 24.8 billion in the corresponding period last year, he added.
Speaking on raising productivity during a conference held by the International Monetary Fund, Reserve Bank of India Governor Shaktikanta Das on Friday said while sustained and broad-based economic recovery remains the current policy focus, it is necessary to undertake deep structural reforms
The government believes any legislation for regulation or for banning can be effective only with significant international collaboration on evaluating the risks and benefits and evolution of common taxonomy and standards.
While talking with Congress leader Rahul Gandhi, the former governor of the Reserve Bank of India said, "India is also going to be hit. India's interest rates have also gone up but Indian exports have been slowing quite a bit."
According to the statement of the Governor of the Reserve Bank of India (RBI), Shaktikanta Das, said consequently, the standing deposit facility (SDF) rate stands adjusted to 6 per cent, and the marginal standing facility (MSF) rate and the bank rate to 6.50 per cent.
The Governor, while speaking about the rising inflation across the world, said that inflation in systemically important advanced economies turned out to be persistent rather than transitory.