The Planning Commission has made a case for lowering of interest rates for attracting investments and reversing the declining trend of economic growth. Planning Commission Deputy Chairman Montek Singh Ahluwalia has said this while delivering the 15th JRD Tata Memorial Lecture in New Delhi yesterday.The Reserve Bank is slated to announce its monetary policy review on January 29, amid industry demand for lowering of interest rates to spur growth.Ahluwalia said that Investment inflows have significantly declined by about three percentage points since 2007-08 in the aftermath of global economic crisis. He said the country need to reverse this trend to achieve high economic growth and for this we need fixed investment of 35 per cent by the end of the (current) plan period.
News On AIR | January 15, 2013 9:08 AM
Need to reverse decline in investment flow: Plan Panel Chief