'India well-prepared to deal with US Fed's rate hike'

December 17, 2015 10:35

The finance ministry today said India was well prepared to deal with the impact of the US Federal Reserve's interest rate hike and the end of uncertainties will actually help policy-makers in emerging economies.

"US Fed rate hike and reference to gradualism are on expected lines. India well prepared," Economic Affairs Secretary Shaktikanta Das tweeted.

The US Federal Reserve last night hiked interest rates by 0.25 per cent.

This is the first hike in about a decade, signalling a recovery in the US economy.

"End of uncertainty and accommodative outlook for future will help policy-makers in emerging economies," Das said.

He added that the Fed's confidence on recovery is good news for India's exports, especially for the IT sector.

Meanwhile, the rupee today opened 13 paise higher at 66.60 against the US dollar. Besides, the 30-share BSE Sensex rose 131.43 points at 25,625.80 in opening trade.

Image alongside shows Prime Minister Narendra Modi with Finance Minister Arun Jaitley.

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