Former Indian finance minister calls for rate cut
Growth has recovered and govt must make sure recovery is sustained: Chidambaram
Singapore
INDIA'S former Finance Minister Palaniappan Chidambaram has joined his successor in advocating lower interest rates, while stopping short of endorsing the current administration's budget.
"I would like interest rates to drift down," Mr Chidambaram, who served as finance minister for much of the 10 years to mid-2014, said in an interview in Singapore on Saturday. "Growth was sluggish, but it has recovered, and one must ensure that the recovery is sustained."
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