Press Esc to close
Saturday 29 April 2017
News updated at 3:50 AM IST

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
A lion beats the heat by relaxing under a tree at Dr Shivaram Karnath Biological Park...

A lion beats the heat by relaxing under a tree at Dr Shivaram Karnath Biological Park...

A fan performs 'Abhiske' of a poster of 'Bahubali 2: The Conclusion' at a cinema hall...

A fan performs 'Abhiske' of a poster of 'Bahubali 2: The Conclusion' at a cinema hall...

Salesperson attends to customer, inside a jewellery showroom during Akshaya Tritiya, a major...

Salesperson attends to customer, inside a jewellery showroom during Akshaya Tritiya, a major...

BCCI COA member Vinod Rai and cricket legend Sachin Tendulkar release author Devendra...

BCCI COA member Vinod Rai and cricket legend Sachin Tendulkar release author Devendra...

Activists of Congress party hold placards and raise slogans during a protest against state...

Activists of Congress party hold placards and raise slogans during a protest against state...

Kempegowda International Airport customs seized Gold Biscuits...

Kempegowda International Airport customs seized Gold Biscuits...

Fireworks at Golden temple on the occasion of the Birth Anniversary of the second Guru...

Fireworks at Golden temple on the occasion of the Birth Anniversary of the second Guru...

Bollywood actor Akshay Khanna during the cremation of his father veteran actor Vinod Khanna...

Bollywood actor Akshay Khanna during the cremation of his father veteran actor Vinod Khanna...

A tiger enjoys water bath on a hot summer afternoon at Surat Zoo...

A tiger enjoys water bath on a hot summer afternoon at Surat Zoo...

Senior Wildlife Veterinarian Sharvan Singh Rathore plays with a Lion Cub ‘Kailash’...

Senior Wildlife Veterinarian Sharvan Singh Rathore plays with a Lion Cub ‘Kailash’...

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.