RBI turns bullish towards inflation

By agencies   |   Tuesday, 25 July 2006, 07:00 Hrs
Printer Print Email Email
MUMBAI: RBI’s latest industrial outlook survey said the business expectation index will show an improvement during July-September.

While working capital finance needs are expected to increase, the availability of finance is also expected to improve, said RBI.

Notwithstanding heaving interest rates and the threat of inflation, the Reserve Bank of India remained highly bullish on the growth front .The apex bank said the policy would contain the year-to-year inflation rate for 2006-07 in the range 5-5.5 percent, as projected earlier.

According to RBI sources, the collected data for 2005-06 showed that almost 30 percent of incremental non-food credit has gone to the industrial sector, with 14 percent of it on account of housing loans and 12 percent of incremental non-food credit absorbed by the agricultural sector. The infrastructure sector accounted for about one-fourth of incremental credit to the industry, while textile and iron and steel industries absorbed another one-fourth.

Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..