Business Daily from THE HINDU group of publications
Tuesday, Jul 31, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 31, 2007 ePaper |
|
|
|
|
|
|
|
Money & Banking
-
Interest Rates Industry & Economy - Economy ‘Further rise in interest rate will impact GDP growth’
Our Bureau New Delhi, July 30 A further rise in the interest rate will impact GDP growth and bottomline of corporates, according to the PHD Chamber of Commerce and Industry. Against the backdrop of moderate inflation and rising rupee, the RBI, in its Review of Monetary and Credit Policy to be announced on Tuesday, should take steps so that there is no further hardening of the interest rate structure.The impact of dear money policy is already visible in the reduction in offtake of non-food credit. The Monetary Policy should ensure that adequate funds are available at affordable cost to the industry, especially to the micro, small and medium enterprises.The prime lending rate is high compared to international interest rates and is impacting the competitiveness of the domestic industry and exports. The key rates need to continue at the existing level, if it cannot be brought down, so that balance between growth rate and inflation rate is maintained, the chamber said.
More Stories on : Interest Rates | Economy
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
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 © 2007, 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
|