Business Daily from THE HINDU group of publications
Wednesday, Dec 24, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Dec 24, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Industry & Economy
-
Exports & Imports ‘Export-linked sectors likely to be hit harder’ Our Bureau Mumbai, Dec. 23 The export-linked sectors in India are likely to be most affected by the greater-than-expected recession in advanced economies, said Prof. Suresh D. Tendulkar, Chairman of the Economic Advisory Council to the Prime Minister. He also warned that the growth rates in India could slow down more due to a psychological fear of the global doom than an actual slowdown. “The prevailing atmosphere of gloom and doom in India is much more in the mind than what seems to be warranted by objective circumstances,” he said, while addressing a seminar on SME financing here on Tuesday. Both the Government and the Reserve Bank of India have announced special measures for the Micro Small and Medium Enterprises segment, but banks have to implement them. “There would be transition problems for the bank in moving from high levels of deposit and lending rates to a lower one,” he said. After the measures announced by the RBI, public sector banks have to take a call to lend, he said. Talking on the sidelines, Mr Tendulkar said, “It is desirable to reduce repo and reverse repo rates by 100 basis points, but the call has to be taken by the RBI Governor.” He also emphasised that the impact of the global meltdown on the Indian markets would be limited. “Our growing domestic sector, which remains unaffected by the global meltdown, is our strength,” he said. Inflation could fall to between 4 per cent and 6 per cent by end of March, riding on good harvest and fall in international commodity prices, he said. More Stories on : Exports & Imports | Economy
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
