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Fiscal Minister hoping for a new era

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Finance Minister declared that because of the global slowdown, India hostel many other global economies and this will carry on to grow at 7-8% this year. It was middling near a downturn. Inaugurating the Economic Editors Meeting, he specified that such level of growth even as the global fiscal crisis had become bad and will be the 2nd rapid growth rate across the world. He said to www.propetykhazana.com that, “I hope to stress, that India is middling near a downturn and the growth expected for the 1st Quarter was about 8% and 2nd quarter will surely show high growth. So, we should expel the thinking of downturn.”
As per to the sources saying @ the www.propertykhazana.com, the price rise rate is falling to solo digit, interest rates might reduce more. This will stimulate the demand and argue into growth. He also said that, “If the rates of price raise carries on to slowdown, policy rates might also calm and the chauvinism in favor of growth. RBIs policy is already calmed ahead provoking growth.” To query’s on interest rates he said many public sector banks had by now decreased the rates for housing loans for about 75-80 bps. But, I can’t give any suggestion to private segment banks.
Source: NBTVLIVE

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