Even as the government is continuing with a phased de-regulation of diesel prices, RBI Governor Raghuram Rajan has urged the Centre to completely de-regulate diesel prices. Rajan on Monday said diesel price de-regulation is especially important in the wake of rising global crude oil prices.<br /><br />"De-regulation will empower state-owned oil firms to change rates in tandem with crude oil prices like in the case of petrol. In January 2013, the government started a phased de-regulation by allowing up to 50 paise a litre increase in diesel rates every month," Rajan said.<br /><br />On Prime Minister Narendra Modi's newly introduced 'Jan Dhan' scheme Rajan said, "It is a good scheme, its target should be universal reach and not speed and numbers." <br />In wake of recent scandals, Rajan called for internal evaluation. "Recent scandals call for better internal evaluation of lending process; banking must become more engaged and informed, he said. "<br /><br />Rajan also said that India's macroeconomic indicators are improving and inflation has been coming down consistent with the central bank's forecast, but Asia's third-largest economy needs investment growth to pick up.<br /><br />Rajan, however, said Friday's industrial output and inflation data suggested that recovery was "uneven."<br /><br />Output from mines, utilities and factories grew by a much slower-than-expected 0.5 per cent year-on-year, government data showed on Friday, down from June's revised 3.9 per cent rise.<br /><br />Retail inflation, which the RBI tracks for setting lending rates, edged down marginally to 7.8 per cent in August from 7.96 per cent a month earlier. <br /><br /><br /><br /><br />For More information on this news visit: http://www.itvnewsindia.com/<br />For More information on this news, visit: http://www.itvnewsindia.com/hindi<br />Connect with us on Social platform at: http://www.facebook.com/InformationTV<br />Subscribe to our You Tube channel: https://www.youtube.com/user/itvnewsindia
