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PHD Chamber welcomes cut in SLR Rates

RBI and Government at centre must create conducive business environment for revival in aggregate demand as well as resumption of growth trajectory

June 03, 2014 12:55 IST | India Infoline News Service
PHD Chamber welcomes the cut in statutory liquidity ratio (SLR) by 50 basis points from 23% to 22.5% as it will increase liquidity in the system and soften the pressure on interest rates, said Sharad Jaipuria, President, PHD Chamber in a press statement issued here today.
 
A reduction in the required SLR will give banks more freedom to expand credit to the non-Government sector, said Jaipuria.
 
RBI and Government at centre must create conducive business environment for revival in aggregate demand as well as resumption of growth trajectory, he added.

Going ahead, we urge the Government to take effective measures to improve supply side constraints in the economy. Farm sector needed to be focused seriously in the coming times to resolve the structural problem of inflation and to enable economy to attain its potential growth rate trajectory, said Jaipuria.
 
Going ahead, we expect a calibrated policy stance in the coming times that should consider revival of economic growth trajectory along with containing inflationary scenario, said he said.

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