Press Esc to close

RBI keeps key rates unchanged: Ind expresses disappointment

New Delhi, Jul 30, 2013, (PTI): 13:00 IST
PTI file photo.
Expressing disappointment over the RBI's move for not cutting the key policy rates, India Inc today asked the government to take immediate actions to revive growth and boost investments.

"We are disappointed. The RBI has also cut down the GDP forecast for FY'14 to 5.5 per cent, which is clearly reflecting the reality," CII Director General Chandrajeet Banerjee said.
He said economic growth needs to picked up and for that "moderate of interest rates are very important".

Sharing similar views former Ficci President R V Kanoria said that the investment environment of the country should be improved.

"We have to reignite the passion of economic growth by building confidence in the economy. Enhancing investments are the need of the hour," Kanoria said.

Similarly, Rajiv Kumar, a senior economist, said that the GDP forecast would come down further.

"The RBI is sacrificing the growth to maintain stability in the domestic currency," Kumar added.

Weighed down by a weak rupee, the Reserve Bank today chose to keep all key interest rates unchanged and asked the government to take urgent steps to rein in the high current account deficit.

Lowering the GDP growth projection for the current fiscal to 5.5 per cent from 5.7 per cent, the central bank said the external sector is the "biggest threat" to economic stability.

Go to Top

Photo Gallery
Indian Air force paratroopers perform maneuvers at Bamhrauli Air station as the Indian Air Force ...

Indian Air force paratroopers perform maneuvers at Bamhrauli Air station as the Indian Air Force ...

Indian Mens Hockey team celebrates their birth in the final of the Hero Asia Cup 2017 with a...

Indian Mens Hockey team celebrates their birth in the final of the Hero Asia Cup 2017 with a...

Prime Minister Narendra Modi on the maiden voyage of Ro-Ro Ferry Service between Ghogha and Dahej...

Prime Minister Narendra Modi on the maiden voyage of Ro-Ro Ferry Service between Ghogha and Dahej...

India's Kuldeep Yadav celebrates the wicket of New Zealand batsman Kane Williamson during the...

India's Kuldeep Yadav celebrates the wicket of New Zealand batsman Kane Williamson during the...

External Affairs Minister Sushma Swaraj with Bangladesh Prime Minister Sheikh Hasina at a ...

External Affairs Minister Sushma Swaraj with Bangladesh Prime Minister Sheikh Hasina at a ...

Spain's Garbine Muguruza in action during her group stage match against Latvia's Jelena Ostapenko...

Spain's Garbine Muguruza in action during her group stage match against Latvia's Jelena Ostapenko...

Meng Meng, one of the two giant Chinese panda bears, is seen at the Zoo in Berlin, Germany July 5...

Meng Meng, one of the two giant Chinese panda bears, is seen at the Zoo in Berlin, Germany July 5...

Father Nicolas Maine blesses bikers' helmets during a

Father Nicolas Maine blesses bikers' helmets during a "Blessing of the Bikes" ceremony at Saint...

Arsenal's Sead Kolasinac in action with Everton's Nikola Vlasic during Premier League match at ...

Arsenal's Sead Kolasinac in action with Everton's Nikola Vlasic during Premier League match at ...

A volunteer uses a water hose to fight a wildfire near houses on the outskirts of Obidos...

A volunteer uses a water hose to fight a wildfire near houses on the outskirts of Obidos...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.