INSUBCONTINENT EXCLUSIVE:
By Vrishti BeniwalIndia is calling on its central bank to cut interest rates to fire up the economy, after the Interim Budget announced
in June and August, has reasons to abandon its hawkish bias: inflation is at an 18-month low, consumer demand is cooling and global risks
Policy Committee meeting that began Tuesday
The decision is due to be announced on February 7.
The government widened its fiscal deficit targets for the current financial year and
next to 3.4 per cent of gross domestic product
repo rate by 25 basis points and adopt a neutral stance at its February 7 meeting, pulling back from what we think was a hasty switch to
employment.
The statistical system needs to be revamped to ensure the surveys capture the rising trend of self-employment, he said, adding
borrowing requirement of state-owned entities
The goal would be to rationalise the borrowing and leave more for the private sector, which likely will also bring down interest rates,
