Modi Says India Won't Devalue Currency, Give Farmers Handouts
- India has never sought to gain at expense of partners: Modi
- "Our help to the farmers is not based on giving handouts"
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Prime Minister Narendra Modi doubled down on India’s commitment to macroeconomic stability, saying it has never devalued its currency to achieve growth and won’t resort to cash handouts as a way to boost farmer income.
With International Monetary Fund Managing Director Christine Lagarde on stage next to him, Modi said that India has "never tried to gain in trade at the expense of our partners." He vowed to be a "good Asian and good global economic citizen" while hailing efforts to lower inflation, narrow the budget deficit and boost foreign reserves.