CII Seeks Interest Rate Cut, Rupee Depreciation

New Delhi: The Confederation of Indian Industry (CII) has called for an interest rate cut of 100 basis points for boosting the economic growth rate. It has also suggested interventions for depreciation of the exchange rate that would increase export-related jobs, said a CII release on Friday.

“CII is of the firm belief that the current blip in growth rates is temporary and we are confident of a strong recovery by fiscal year end as industry gets over the teething problems of GST and other positive measures take effect. New investments will also start early next year as capacities fill up.” said CII President Shobana Kamineni.

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