CRR rate likely to go up, says Tendulkar
Financial Express, January 20, 2010, Page 15
fe Bureaus, Mumbai
Suresh Tendulkar, director of the central board of Reserve Bank of India (RBI), on Tuesday said the country will record a GDP growth of 7.5-8% for a remarkable period of time.
Commenting on the government’s move on the stimulus packages exit , Tendulkar said it is a tough call for the government as all sectors of the economy have not been equally benefited from the measures.
However, he feels there may be hike in cash reserve ratio (CRR) in the forthcoming policy of RBI on January 29 to withdraw excess liquidity in the system.
Tendulkar was here to address a seminar at SME Chamber of India on Tuesday,
Tendulkar, who is also the former chairman of Prime Minister’s Economic Advisory Council, said that while auto sales have picked up fast, Nano has given a further twist as it has inspired some of the other multinational auto companies to enter the small car segment.
According to him, GST is on the anvil though date and time for the same was yet to be finalised. “Once it happens, it is going to be a game changer for the taxation differentials in the entire sub-continental market. But, rules and procedures need to be stabilised. Revenue maximisation is going to remain an issue,” he said.
Financial Express, January 20, 2010, Page 15
fe Bureaus, Mumbai
Suresh Tendulkar, director of the central board of Reserve Bank of India (RBI), on Tuesday said the country will record a GDP growth of 7.5-8% for a remarkable period of time.
Commenting on the government’s move on the stimulus packages exit , Tendulkar said it is a tough call for the government as all sectors of the economy have not been equally benefited from the measures.
However, he feels there may be hike in cash reserve ratio (CRR) in the forthcoming policy of RBI on January 29 to withdraw excess liquidity in the system.
Tendulkar was here to address a seminar at SME Chamber of India on Tuesday,
Tendulkar, who is also the former chairman of Prime Minister’s Economic Advisory Council, said that while auto sales have picked up fast, Nano has given a further twist as it has inspired some of the other multinational auto companies to enter the small car segment.
According to him, GST is on the anvil though date and time for the same was yet to be finalised. “Once it happens, it is going to be a game changer for the taxation differentials in the entire sub-continental market. But, rules and procedures need to be stabilised. Revenue maximisation is going to remain an issue,” he said.
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