Finance Minister Pranab Mukherjee assured that interest rates would not increase in the coming few months due to borrowing programme of the government. Finance Minister has projected government borrowings of Rs 4.51 lakh crore for the present fiscal. Mukherjee said, “Last fiscal also the Reserve Bank of India (RBI) was careful in debt management, and this year also we will ensure that the private sector can avail loans at affordable rates, and do not pay higher interest rate,”.
However, bankers have been expecting hike in interest rates in the next six months, due to the government borrowing and the difference between the consumer and wholesale price indexes.
However, bankers have been expecting hike in interest rates in the next six months, due to the government borrowing and the difference between the consumer and wholesale price indexes.
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