FIEO feels a token cut could have possibly raised the morale of trade and industry
M Rafeeque Ahmed, President, FIEO commenting on the RBI holding repo rate steady stated, as the economic growth showed a rebound to 5.7% in Q2 after suffering two straight years of sub - 5% growth and CPI reaching the Reserve Bank of India's (RBI) target of 8.0% ahead of January 2015, a token cut could have possibly raised the morale of trade and industry.President FIEO said that second time reduction in exports refinance in the current year does not augur well for exports and this may affect both the flow and cost of credit to exports sector affecting the micro and small companies the most.
FIEO chief stated that the export data for August 2014 had shown moderation and the MSME export sector is also under the shadow of a QE taper, which could impact their performance.
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