Monday, January 7, 2013

Budget talks begin

     The talks, prior to the center budget that is expected to be delivered on the last week of next month, have begun.  Finance minister, P. Chidambaram, held talks with the chief executives of leading banks and the chiefs of financial establishments in this regard on Monday.  He will hold talks with financial experts and eminent business people of the economy in the coming days.  Important decisions on curtailing subsidies and  proceeding  the financial renovations are expected in the next budget.  Therefore, an unprecedented importance is given to the budget talks this time.   Industrial growth has been adversely affected by the high interest rate for the loans.  FM, in this circumstance, might possibly ask the chiefs of banks and financial enterprises to decrease the interest rate without waiting the reserve bank's decision in this regard.
     It will be on January 16, FM is going to meet the industrialists prior to the upcoming budget.

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