Media has raised the issues that new pricing to benefit Reliance Industries.
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
India's record current account deficit has been a key reason behind why Standard & Poor's and Fitch Ratings cut their outlooks on the country's sovereign rating to 'negative' last year.
Mayaram said the concerns over the pace of implementing economic reforms were "overstated".
Global experts last week gave the same forecast.
Keeping that much money out of the banking system has created a liquidity deficit that has forced banks to borrow as much as RS 1.6 trillion from the central bank to meet daily funding needs.
His officials are working on a series of steps to attract at least $20 billion in new investment to fund the deficit without depleting India's $300 billion in forex reserves.
The wholesale price index, the main inflation indicator, rose an annual 6.84 per cent in February, higher than the 6.54 per cent rise estimated by analysts.
The state is struggling to provide drinking water to thousands of people.
In Jan the country raised the import tax on the yellow metal by 2 percentage points.
The current cost of the food subsidy is Rs 1 trillion.
The FinMin has built up a cash surplus of about Rs 80,000 crore.
Rising rupee, local freight make export less competitive.
Africa, Middle East top destinations for Indian wheat.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances