Source: The Hindu Business Line, April 12, 2012
NEW DELHI: Expressing disappointment at 4 per cent growth in manufacturing, the FICCI President, Mr R.V. Kanoria, said, “A reduction in interest rates of at least 50 basis points should be seriously considered by RBI as part of its next monetary policy.”
There is need to cut the fiscal deficit to bring down interest rates and stimulate demand, said Mr Kanoria. FICCI predicts a 4.2-4.5 per cent industrial growth in 2011-12.