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RBI not to slash rates
Sunday, 16 March, 2008
With view of the rising inflation levels, India Inc has expressed that RBI would not cut interest rates to boost the slowing industrial growth. This was revealed in a survey among 130 CEOs conducted by industry chamber Assocham. "Government is confronted with the dilemma of keeping the inflation rate low and prevent further hardening of the interest rates, hence they are left with little elbow room," said Assocham President Venugopal Dhoot. Earlier commenting on the rising infaltion which went on to a nine-month high of 5.11 per cent, Finance Minister P Chidambaram also indicated that RBI may not go for cut in policy interest rates due to high inflation rate.
--MP
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