Montek rules out fresh hike in interest rates

“If you are asking me whether I think interest rates are going to harden in the course of the current year, I would not assume that,” he said.

Analysts expect interest rates may start rising towards the end of the fiscal year as the government plans to borrow a record Rs 4,51,000 crore ($93 billion) in 2009-10 to fund a widening fiscal deficit.