7% inflation target achievable, more measures needed: Chambers

New Delhi, Nov 13 (UNI) Reacting to the fall of inflation to single digit level at 8.98 per cent, chambers today expressed hope that the inflation target of seven per cent is achievable by the current fiscal-end, saying there is need for interest rate cut to fight the sharp slowdown in the industrial sector.

The ASSOCHAM said the inflation target of seven per cent, set by the RBI, will be achieved by the current fiscal-end.

The policy makers should encourage corporate sector investments with creation of job opportunities and consumer demand for the economy to grow at eight per cent, the industry chamber said in a statement.

In view of the falling prices, FICCI has demanded a cut in the interest rates and further easing of credit policy to fight the sharp slowdown in the industrial sector.

''The softer inflation regime creates scope for more monetary push for boosting industrial growth,'' the Chamber said, adding that there is a need to maintain a balance between the input price decrease and decline in the prices of finished goods.

UNI SG AK RAI2027