BALI: Subhash Chandra Garg, DEA Secy, on Thursday said that the government has taken several measures to stem rupee slide. “All the measures in the current account and also in the capital account were taken because there was a perception that the slide is too sudden, too much and therefore we need to take steps,” he said on the sidelines of the IMF-World Bank economic forum in Bali. “The NRI bond and all that are further capital account measures which will come when there is an apprehension that we need to buttress the reserves,” he added.
He also said the government will not take any move to reduce spending to meet the shortfall in revenues and he also pointed out the government did not foresee any shortfall in revenues as well. Talking about the fuel price deregulation, he said that the government was committed to not going back on deregulation.