New Delhi: The steps to be announced by the government and the Reserve Bank may include raising interest rates for NRI deposits, cutting down wasteful expenditure and unveiling a bond issue for overseas investors to improve capital inflows in the wake of the rupee’s free fall. Economic growth has fallen to a nine-year low of 6.5 per cent in 2011-12 and industrial output continues to be sluggish, with 0.1 per cent growth in April. Inflation too remained at an elevated level of 7.55 per cent in May. “Private investment in India is constrained by lack of availability of funds. The government might announce some measures for attracting investments and also steps to cut down wasteful expenditure,” said Y.K. Alagh, chairman of the Institute of Rural Management. Hit by weak global sentiments and subdued local macroeconomic performance, the rupee has lost over 25 per cent in the past one year. It also breached the 57 level against the dollar on Friday. Market analysts expect the RBI to announce an increase in interest rates for deposits by non-resident Indians. They also expect a government bond issue to attract capital inflows.