It is reported that Mr Sajjan Jindal president of ASSOCHAM expressed a serious concern over falling Industrial Production saying that the trend will continue as industry continues to reel a under heavy pressure of meltdown.
Mr Jindal said that the chamber has reiterated its demand for further cut down in CRR, RR and Reverse Repo Rate by 200 basis points, arguing that with decrease in theses rates will amount to relax interest rates.
It said that the falling industrial Production can be revived with availability of liquidity at below 8% rate because at this rate the input cost would fall down. When the input costs decrease naturally the industrial production accelerate.