We need to put our house in order, Raghuram Rajan says

MUMBAI: Reserve Bank governor Raghuram Rajan on Friday said India needs to build a "bulletproof national balance sheet" to deal with the fallout on the economy from US Fed Reserve's tapering of stimulus that has been only been postponed not done away with.

"What we need to do is put our house in order before it (tapering) comes back. The postponement of tapering is only that, a postponement. We must use this time to create a bullet-proof national balance sheet and growth agenda, which creates confidence in citizens and investors alike," he said. Rajan said this during a press conference post RBI's mid-quarter policy review here.

The US Federal Reserve on Wednesday decided against tapering its monetary stimulus under which it has been buying assets worth $85 billion every month.