New Delhi:29 Jul 2013
New Delhi is seeking higher foreign investments to fund the current account deficit, which hit 4.8 percent of the GDP in the fiscal year that ended in March. A swollen deficit has helped make the rupee the worst performing emerging Asian currency, which has been down over 9 percent since the beginning of May.
What Finance Minister said:
• I do not expect RBI\'s liquidity measures to result in hike in bank lending rate
• Price stability cannot be the only mandate of a Central Bank
• Mandate of a central bank is to ensure growth promotion and employment generation in addition to price stability
• Banks have no plans to increase interest rates
• Bankers have assured me that they will fully meet the credit needs of the industry
• Cabinet committee on investment cleared projects envisaging investment of Rs 1.6 lakh crore
• Our government is industry friendly and when we return in 2014, we will be more friendly
News From: http://www.7StarNews.com
Monday, July 29, 2013
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