File pic of the Finance Minister

He also said that the government and the Reserve Bank of India as well as other regulators are well prepared, and working closely together, to deal with any short term volatility.

"Our aim will be to smooth this volatility and minimize its impact on the economy in the short term. At the same time, for the medium term, we will steadfastly pursue our ambitious reform agenda—including early passage of the GST—that will help us realize our medium term growth potential of 8-9% and help achieve our objective of development for all," he said.
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