Expectations belied

Expectations belied

After the recent budget the monetary policy has belied the expectations of industries, as reduction of 100 bps was expected by the industries which would have given an impetus to industrial growth specially to Micro, Small and Medium Enterprises (MSME) and infrastructure sector which are the ones who have been effected the most due to the slow down. As predicted there is a slowdown and the current GDP has fallen from 7.6% to 6.9% now as per RBI. To achieve the predicted 7.1% the reduction in interest rate would have been the key factor for growth said Mr. Vijay Kalantri, President, All India Association of Industries (AIAI).

AIAI feels as inflation is under control and industries reeling under Indian and global slowdown the reduction in interest rate would have given the much needed boost to the manufacturing and infra sector.