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No decision yet on convertibility: Chidambaram
P. Chidambaram
New Delhi:
The Government said on Tuesday no decision had been taken on capital account convertibility and Prime Minister Manmohan Singh had been wrongly quoted on that.
"All that the Prime Minister said was that he will request the Reserve Bank of India to examine what steps need to be taken for capital account convertibility," Union Finance Minister P. Chidambaram said in the Rajya Sabha.
He briefly intervened in a discussion on the Finance Bill 2006 when CPI(M) member Sitaram Yechury was speaking.
Mr. Yechury opposed the reported Government move saying this was not the right time and the country was not prepared for such convertibility. — UNI
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