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Fall in public, private investment major concern: RBI Gov
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SME Times News Bureau | 21 Nov, 2015
Reserve Bank of India Governor Raghuram Rajan on Friday said he was
concerned that the fall in public and private investment in India would affect the country's economic growth.
"On
the growth front, the central concern is with investments. Private
investment has fallen back a bit and so has public investment," Rajan
said at an event in Hong kong.
However, despite the slowdown in growth
and investments, strong foreign direct investment and some traction in
infrastructure development could encourage private investments, he
added.
Prime Minister Narendra Modi said in Britain last week
that the world's confidence in India is rising is proved by the fact
that foreign direct investment into India has increased by 40 percent.
The
RBI recently lowered its growth forecast for the country's current
fiscal to 7.4 percent, from the 7.6 percent it had projected earlier.
In September, the central bank cut the repo rate, at which it lends to commercial banks, by 50 basis points to 6.75 percent.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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64.50 |
UK Pound
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Euro
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75.65 |
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