SME Times is powered by   
Search News
Just in:   • Indo-Nepal trade: Let's Wait for the Dust to Settle   • India-US tariff stalemate likely to be resolved in 8-10 weeks: Chief Economic Advisor  • PM Modi-Trump phone call 'moment of bonhomie', says former senior Indian official  • India ready to take relationship with EU to next level: PM Modi to Ursula von der Leyen  • India's efforts to shape sustainable future across region lauded at East Asia Summit event 
Last updated: 27 Sep, 2014  

CII Logo THMB CII calls for need to cut key interest rates to push growth

india-economy-growth-generic.jpg
   Top Stories
» India's contribution to global GDP growth to reach 9 pc by 2035: Govt official
» Centre to help ITIs become AI-driven training centres: FM Sitharaman
» Sensex, Nifty make strong gains amid positive cues after US Fed rate cut
» US Fed decision paves the way for RBI to go for more rate cuts: Analysts
» Piyush Goyal to embark on 2-day UAE visit today
SME Times News Bureau | 06 Aug, 2013
Industry lobby CII Monday wanted a cut in the key interest rates of the Reserve Bank of India, saying the rates were too high for long-term economic growth and said the country needed to return to a 8-9 percent growth path.

Contending that increasing interest rates acted as an anathema to investments, CII president S Gopalakrishnan said the country needed to rope in investments hampered by the high interests. He also called for giving a thrust to infrastructure development and advocated power and land reforms.

While extolling the RBI for doing a "good job" by enforcing monetary control for reigning in volatility, Gopalakrishnan said: "The interest rates are too high for long term growth."

"We feel the cash reserve ratio (the share of deposits banks must keep with the central bank) should be reduced by 100 basis points. The repo rate (the rate at which the RBI lends money to commercial banks) should be cut by 75 basis points," he said.

He said the growth could be muted in the next few years. "We need to return to the eight to nine percent GDP growth. For this we need investments. There is a sense of urgency."

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
₹84.00
₹82.25
UK Pound
₹104.65
₹108.10
Euro
₹92.50
₹89.35
Japanese Yen ₹56.10 ₹54.40
As on 25 Jul, 2025
  Daily Poll
Who do you think will benefit more from the India - UK FTA in the long run?
 Indian businesses & consumers.
 UK businesses & consumers.
 Both will gain equally.
 The impact will be negligible for both.
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter