RBI should not print money to finance fiscal deficit: Pinaki Chakraborty
National Institute of Public Finance and Policy (NIPFP) director Pinaki Chakraborty is not in favour of the Reserve Bank of India (RBI) printing more money to finance the fiscal deficit as he believes that it will lead to fiscal profligacy. Acknowledging that high inflation is certainly a concern, Chakraborty stated that there is a need to stabilise inflation to a level which is manageable. The NIPFP director further stated that faster recovery is the key to enhance employment. However, providing support through fiscal measures will provide some livelihood security in the short run, he added.