RBI maintain monetary policy to sustain GDP : CII

Posted By: Staff
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New Delhi, Nov 30: With the GDP showing a speedy growth during the quarter ending Sep 2009, CII has said that India will continue to see a strong economic upsurge even when other countries faced economic slowdown.

Stating that CII has always vouched strong economic recovery for India, Mr. Chandrajit Banerjee, Director General, said that the recovery in industrial section will keep the domestic economy in a good stead.

Banerjee said that inorder to maintain GDP growth, RBI has to categorically state its monetary policies

"It would be important for the RBI to maintain policy rates at the current levels in order to prevent the growth momentum from slackening," said Banerjee, adding that GDP growth can be attributed to rise in 25 per cent on government consumption spending.

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