ASSOCHAM has expressed disappointment over RBI keeping the policy interest rates unchanged. In a statement issued today, the industry Chamber said, clearly the RBI has chosen to remain over-cautious about the inflation outlook even when the key data like crude oil, monsoon, inability of the producers to hike prices made a clear-cut case for softening of the interest rates. It also said that a large part of the industry is reeling under a heavy debt and the high interest costs are becoming a big drag on the balance sheets. It however said, RBI cannot be faulted on this as its main mandate has been to keep inflation low, and not growth dynamics. PHDCCI President Gopal Jiwarajka said that a rate cut was expected from the RBI as inflation is in the comfortable zone and supply side is expected to improve with a good monsoon on the cards. He said, the growth in industry output needs to be accelerated to the level of 9-10 per cent with vital measures for the employment generation in the economy.