Millennium Post

India Inc repeats rate cut rant

Notwithstanding the marginal rise in December inflation, India Inc on Wednesday said that low oil prices and measures undertaken by the Government are likely to keep inflation under check, even as it reiterated the need for an interest rate cut by the RBI to kickstart growth. “Given the slow pace of global recovery and expectations of oil prices to remain at low levels going forward, inflation is expected to be under control,” said Ficci President Jyotsna Suri.

“Going forward, the moderation of global commodity prices and the measures taken by the government to contain the inflation would help rein in inflationary expectations and prevent inflation from making a comeback in a big way,” said CII Director General Chandrajit Banerjee said.  “Policy makers need to cut the interest rates in order to induce the producers to augment the supply of goods and services on one hand and increase the domestic demand on the other,” Assocham Secretary General D S Rawat said. “Inflation worries are behind us and current demand and supply dynamics indicate that inflation will consolidate at around 3 per cent (average) in 2015,” PHD Chamber President Alok B Shriram said.
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