DON’T RAISE THE INTEREST RATES!

DON’T RAISE THE INTEREST RATES!
With crores of indians living in abject poverty, what India needs is double digit growth. As Mr. K.V.Kamath, former M.D., I.C.ICIC, bank rightly & famously said that India needs to have single digit interest rates for double digit growth. The R.B.I. governor has to choose between moderate interest rates, high growth , moderate to moderately high inflation & high interest rates, low growth, moderate inflation. Common sense seems to indicate to me & to u all also that the former option is the better one. Let us hope & pray that the R.B.I. governor & present govt. also has it. ( which I personally doubt). So my guess is that we should be prepared for increasing interest rates in India in coming months.