Business Chiefs Want sops from the New FM - Rangarajan Not Convinced?
LEADERS of the three top business chambers - Confederation of Indian Industry (CII), Associated Chambers of Commerce and Industry of India (Assocham) and PHD Chamber of Commerce and Industry (PHDCCI), met the Prime Minister's Economic Advisory Council (PMEAC) Chairman, C. Rangarajan yesterday.
CII wanted a reduction in repo rate by 100 basis points, and reduction of Cash Reserve Ratio (CRR) by 100 basis points. They also wanted an economic revival package.
Addressing a different meeting, Dr. Rangarajan firmly declared that there is no scope for a kind of stimulus provided in 2008.