Press Esc to close
Thursday 23 October 2014
News updated at 12:08 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

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
Armed RCMP officers head in to Centre Block on Parliament Hilll following a shooting incident...

Armed RCMP officers head in to Centre Block on Parliament Hilll following a shooting incident...

The Conservative Party caucus room is shown shortly after shooting began on Parliament Hill...

The Conservative Party caucus room is shown shortly after shooting began on Parliament Hill...

Police teams enter Centre Block at Parliament Hill in Ottawa on Wednesday...

Police teams enter Centre Block at Parliament Hill in Ottawa on Wednesday...

Police and paramedics tend to a soldier shot at the National Memorial near Parliament Hill...

Police and paramedics tend to a soldier shot at the National Memorial near Parliament Hill...

A major fire that broke out in the crackers market in Faridabad...

A major fire that broke out in the crackers market in Faridabad...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Woman buying earthen lamps at a market ahead of the Diwali festival...

Woman buying earthen lamps at a market ahead of the Diwali festival...

School children paint their faces during Diwali celebrations...

School children paint their faces during Diwali celebrations...

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