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This is an archive article published on February 20, 2009
India needs more monetary steps: Montek
Ahluwalia said RBI could cut CRR and interest rates to add liquidity and help revive growth.
Written by Reuters
New Delhi | February 20, 2009 10:28 AM IST
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1 min read
India needs to take more fiscal and monetary steps to stimulate demand and credit flows in a slowing economy,the deputy chairman of the planning commission said on Friday.
Montek Singh Ahluwalia said the country was witnessing a decline in exports and investment demand.
Separately,Ahluwalia told a television channel that the RBI could cut the cash reserve requirement CRR and interest rates to add liquidity and help revive growth.
8220;That is certainly an instrument they can use,both CRR and interest rates,8221; he said in the interview,a transcript of which was published in the Indian Express on Friday.
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