With inflation plunging to nearly five-year low of 3.74 per cent in August, India Inc today nudged the Reserve Bank to slash interest rates and lower the cost of capital in its upcoming monetary policy review.
"The industry is severely impacted by high interest rate regime coupled with increased costs of raw materials and wage rate spirals."
"At this juncture, it becomes inevitable to ease the monetary policy stance in terms of a cut in repo rate to facilitate business sentiments and to put industry on growth trajectory," President of PHD Chamber Sharad Jaipuria said.
The Reserve Bank is scheduled to unveil the fourth bi-monthly monetary policy review on September 30.
Declining prices of vegetable and other food articles brought down wholesale inflation sharply to 3.74 per cent in August.



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