Expressing its expectations from the RBI's credit policy review due in the last of this month, FICCI said that the central bank should bring down the key interest rates further by at least 50 basis points.
However, seeing the slight improvement in the industrial production the RBI may not alter the current rates as there is inflationary pressure in the system and the monsoon is not up to the expectation, which can later on add to the inflationary pressure.
The industry lobby group repeated its demand that the government should take some bold decisions on reforms in areas like decontrolling diesel price, reducing fiscal deficit and encouraging foreign investments to uplift business sentiments.
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