March 7, 2014 / 7:57 AM / 4 years ago

Economic stability in India must include price stability, growth: Fin Min

NEW DELHI, March 7 (Reuters) - The goal of economic stability must include price stability and growth and the government has the right to set the inflation target, India’s Finance Minister Palaniappan Chidambaram said at a press conference on Friday.

The Finance Minister also said the central bank and the government were broadly convergent on deputy governor Urjit Patel’s monetary policy committee report released in late January.

Chidambaram said the inflation target will be set by the parliament and the Reserve Bank of India will implement it. (Reporting by Rajesh Kumar Singh and Manoj Kumar; Writing by Swati Bhat; Editing by Anand Basu)

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