K C Chakrabarty: India’s economic transformation – a snapshot Inaugural address by Dr K C Chakrabarty, Deputy Governor of the Reserve Bank of India, at the Antique India Markets Conference 2009, Mumbai, 7 September 2009. The assistance provided by Mr. Rajan Goyal and Mr. Sujit K Arvind in preparation of the address is gratefully acknowledged. *  *  *  Mr. K.V.
Therefore, the low interest rates will benefit them in other areas. They ensure that prices remain stable and that is the precondition for growth and therefore, ultimately, job security. Why would falling prices be bad for jobs? Buyers and investors begin putting off spending in anticipation of falling prices. With lower demand, production falls and the demand for labour declines.