Jaitley denies putting pressure on RBI to cut rates
Finance minister's comment that the high cost of capital is stifling investment sends markets into a tizzy
Mumbai
INDIA'S finance minister denied on Tuesday that he was pressuring the central bank into cutting interest rates, after his comment that the high cost of capital was stifling investment sent markets into a tizzy.
Arun Jaitley, in a speech in Delhi on Monday, said that "costly capital" was one of the factors impacting manufacturers. Analysts said that his remarks were the most public attempt yet by the government to press the Reserve Bank of India (RBI) governor into easing rates.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools
US trade deficit narrows slightly in March
Canada posts surprise trade deficit as gold exports fell in March
OECD upgrades global growth outlook as US outperforms
US weekly jobless claims unchanged; layoffs decline in April