India Economy

What They Said

| Updated on March 23, 2013 Published on March 23, 2013

New Delhi: Union Finance Minister P. Chidambaram during the inauguration of National Editors’ Conference in New Delhi on Saturday. PTI Photo by Shahabaz Khan (PTI3_23_2013_000018B)   -  PTI

RBI Deputy Governor, K.C. Chakraborty

Mr S. Chandrasekharan , Executive Director, UCO Bank   -  Bijoy Ghosh

Kris Gopalakrishnan, Executive Co-Chairman, Infosys   -  BUSINESS LINE

Montek Singh Ahluwalia   -  PTI

President Pranab Mukherjee

We are looking at the number (exports) and what is very disturbing and challenging is that we have not even reached where we were before (last fiscal’s) $306 billion… trade deficit will definitely be between $193 billion and $196 billion in the current fiscal. This is not a small number and that is where the crisis is.

Commerce and Industry Minister Anand Sharma

We cannot have an affluent promoter and a sick company. Promoters must bring in money.

Finance Minister P. Chidambaram

I seriously wonder what motivates the bank chairmen to constantly speak to the media on loan recovery from Kingfisher Airlines. What about others?

Kingfisher Airlines Chairman Vijay Mallya, on Twitter

They have to give a plan — a financially viable plan. He (Vijay Mallya) has not given that so far.

Civil Aviation Minister Ajit Singh, on Kingfisher Airlines revival

Allegations don’t mean know-your-customer (KYC) norms have been flouted. There is not a single transaction (relating to money laundering as alleged by cobrapost) which has taken place…These are transactional issues, which have nothing to do with money laundering… I am not saying there is no problem. Even without the sting operation, I know there is a problem in the system.

RBI Deputy Governor K.C. Chakraborty

Despite the talk of economic slowdown and volatility in gold prices, customers are willing to buy gold jewellery, both for investment and ornamental value.

Kalyan Jewellers Chairman

T.S. Kalyanaraman

Hiring position seems to be muted this year because many companies still have deep bench (strength), in other words their utilisation rate is still low.

Infosys Co-Founder and Executive

Co-Chairman S. Gopalakrishnan

This (rate cut) is a signal and I have to say that it is in the right direction… We are looking at it with unhappiness. We feel, the signal should have been stronger... Many people would say that the signal should have been more robust than 25 basis points… I am glad that RBI has signalled continuing reduction of the rate.

Planning Commission Deputy Chairman Montek Singh Ahluwalia

As we strive to provide greater economic opportunities, and channel the energies of our youth towards nation-building, we recognise that it cannot be business as usual. We must find new ways of engagement within our societies and between our countries.

President Pranab Mukherjee during banquet for visiting Egypt President Mohamed Morsi

Most banks had reduced their base rates post the 25 basis point reduction in policy rates announced by Reserve Bank of India in January this year. So there is little scope for banks to reduce lending rates further, at least till March 31.

UCO Bank Executive Director

S. Chandrasekharan

Published on March 23, 2013
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