Union Finance Minister Mr. P Chidambaram today said that he supports the idea of 'priority sector lending' for export sector. Mr. Chidambaram was speaking to reporters in Mumbai after having a special interactive session with exporters.Mr. Chidambaram said that the finance ministry was holding talks with RBI in this regard. This move will guarantee easier access to bank credit and lower interest rates. Till date, priority sector lending is limited only to agriculture and other segments like medium and small scale enterprises.The Finance Minister also said that global markets have started showing signs of recovery in last two years. He added that a clear upswing in the US economy, some markets across Europe and Japan bring an opportunity for Indian exporters to increase their trade.On dollar-rupee ration, the finance minister said that the right level of rupee is 59 or 60 to a dollar. He added that although rupee has to find its own level, the finance ministry believes that it should not overshoot the 59 or 60 level.The special interactive session organised by the Federation of Indian Export Organizations was also attended by Revenue Secretary, Sumit Bose, Commerce Secretary, S R Rao and DG Foreign Trade, Anup K Pujari.
News On AIR | September 27, 2013 7:46 PM
Chidambaram supports idea of 'priority sector lending' for export sector