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Indian Media: Economic Recovery In 2014
BBC NEWS, INDIA
December 31, 2013: Media are highlighting banking chief Raghuram Rajan's statement that political stability will play a key role in India's economic recovery in 2014.
"In India, a potential additional source of uncertainty is the coming general election. A stable new government would be positive for the economy," Mr Rajan, the chief of the Reserve Bank of India, said in his foreword to the latest Financial Stability Report.
India's economy has been on a downward spiral throughout 2013. Mr Rajan seems to have realized the importance of policy implementation in 2014 as India gears up for the general elections, reports say.
"With confidence in the financial system still fragile, six years into the crisis, policy certainty is something that investors look for in the current environment," a report in The Indian Express quotes him as saying.
Mr Rajan's hopes aside, papers are not very confident of a clear mandate in next year's elections. "Although a stable new government may be a blessing for an economy battered by slowest growth in nearly a decade, developments point to a coalition which may be unstable," The Indian Express adds.
