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Kamal Narang

No need to panic: Dr Bimal Jalan (sitting), former RBI Governor, and Prof Jagdish N. Bhagwati of Columbia University at a seminar on ‘India: The Emerging giant,’ organised by FICCI in the Capital on Friday. Dr Jalan told newspersons on the sidelines that India can afford to sacrifice a bit of growth to tame the surging inflation. He said the Government needs to take hard decisions, but cautioned against being panicky. He felt that growth must stay in the 8 per cent region and inflation must come down to 5 per cent. There was a need to wait for the steps taken by the RBI and Government to yield results, he said. —

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