© Reuters. FILE PHOTO: Distributors work at a wholesale vegetable and fruit market in Mumbai April 14, 2015. REUTERS/Danish Siddiqui
NEW DELHI (Reuters) – India’s financial development charge is prone to sluggish if the central financial institution hikes rates of interest, Finance Secretary TV Somanathan advised CNBC TV18 on Thursday.
India’s central financial institution is prone to elevate its inflation projection for the present fiscal yr at its June financial coverage assembly and can contemplate extra rate of interest hikes, a supply mentioned on Wednesday.
The central financial institution hiked its repo charge by 40 foundation factors (bps) to 4.40% following a emergency assembly earlier this month.