Delhi MCD Election Results 2017

Source: media reports

Lower interest rates needed to boost infra spending

Lower interest rates needed to boost infra spending
Comment E-mail Print Share
First Published: Fri, Mar 20 2009. 11 22 AM IST
Updated: Fri, Mar 20 2009. 11 22 AM IST
New Delhi: Interest rates in India have to fall further to channel more funds into infrastructure projects, Planning Commission member Kirit Parikh said on Friday.
India’s central bank has aggressively cut its policy lending rate by 400 basis points since October, but banks are yet to reduce their individual lending rates to that extent.
Parikh also said India needs to use a portion of its foreign exchange reserves to fund mega projects.
India needs to spend $500 billion in the five-year period ending March 2012 to upgrade its infrastructure.
Comment E-mail Print Share
First Published: Fri, Mar 20 2009. 11 22 AM IST