Press Esc to close
Tuesday 07 July 2015
News updated at 12:01 PM IST
Weather
Max: 30.7°C
Min : 20.6°C
In Bengaluru
Generally cloudy

RBI keeps key rates unchanged: Ind expresses disappointment

New Delhi, Jul 30, 2013, (PTI):
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
'Umbrella Workshop' where people paint umbrellas with colors in Navi Mumbai...

'Umbrella Workshop' where people paint umbrellas with colors in Navi Mumbai...

Visitors looking the BSF weapons on the occasion of the 50th anniversary of the BSF...

Visitors looking the BSF weapons on the occasion of the 50th anniversary of the BSF...

Mobile app ' Namma Bellad' launched in Bengaluru...

Mobile app ' Namma Bellad' launched in Bengaluru...

Sadhvi Niranjan Jyoti feeds cows during her visit to Gir Seva Goshala in Ahmedabad...

Sadhvi Niranjan Jyoti feeds cows during her visit to Gir Seva Goshala in Ahmedabad...

An highly decorated Vruksha hall during the 'BJP Maha Samparka Abhiyan 2015'...

An highly decorated Vruksha hall during the 'BJP Maha Samparka Abhiyan 2015'...

A fire broke out at Sony manufacturing plant in Navi Mumbai on Sunday...

A fire broke out at Sony manufacturing plant in Navi Mumbai on Sunday...

Pilgrims crosses the mountains as they move towards Amarnath Holy Cave Shrine...

Pilgrims crosses the mountains as they move towards Amarnath Holy Cave Shrine...

A Kashmiri Muslim woman offers noon prayers in the ruins of an ancient Hindu temple...

A Kashmiri Muslim woman offers noon prayers in the ruins of an ancient Hindu temple...

A security man keeps vigil on the mountains near Amarnath Holy Cave Shrine 3880 meters high...

A security man keeps vigil on the mountains near Amarnath Holy Cave Shrine 3880 meters high...

An Indian boy practices Mallakhamb, a traditional Indian gymnastic sport...

An Indian boy practices Mallakhamb, a traditional Indian gymnastic sport...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523