Our Bureau Barely days after an enforced ceasefire between the Finance Ministry and the RBI, intermittent sniper fire zings across the landscape. In a veiled attack on RBI Deputy Governor Viral Acharya over his explosive speech last week, Economic Affairs Secretary Subhash Chandra Garg said on Monday that many of the economic indicators are showing signs of an upswing.
Garg’s statement came on a day when the BSE Sensex closed at 35,012 with a gain of 579 points, and the NSE Nifty rose 173 points to 10,553. The rupee clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar. There was more good news on the crude oil front: Brent crude slipped below $72.84 a barrel.
“Rupee trading at less than 73 to a dollar, Brent crude below $73 a barrel, markets up by over 4 per cent during the week and bond yields below 7.8 per cent. Wrath of the markets?” Garg tweeted. It was a snide allusion to Acharya’s remark last week, and signals a a fresh face-off between North Block and Mint Street.
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