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Interest rates still high: Kamal Nath

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Reuters

Posted: Feb 12, 2009 at 1102 hrs IST
Kamal nath

New Delhi Interest rates in India are still high and have to be brought down, the trade minister said on Thursday.

"Our interest rates are too high ... We need to bring down the interest rates," Kamal Nath said referring to the need to lower borrowing costs for industry and exporters.

Since October, the RBI has cut its key lending rate by 350 basis points in a slowing economy.

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reduce interest rates by goutam on 12 Mar 2009

how u r going to reduce the interest rates sir. what steps you are going to take to overcome these interest.

VAT and no reduction in sale price by Rajesh on 12 Feb 2009

The government must be clear of what drives the economy? Is that the Industry that produces or the retailers who sells or the consumer who consumes. When there is a lot of requirement to consumers in each and every sector, take it as a T-Shirt which is unfilled to a larger extend. It's not with the Business Management or Sale Techniques or the advertisement mode of spending the money. The consumers are ready to buy materials The industry is ready to provide their products in a sales price, which is way below the Maximum Retail Price(MRP vs Sales Price). Take for example, An industry taxes for a 3 Jar Mixer for Rs. 750 to Rs. 900. The VAT (tax) falls for these thousand rupees. The product can be transported or sold to the consumer inside indian cities for 1,500(at the most, since being the package charge for 300 ). But the item sold in different part of the cites are at the rate which is THREE times higher than the rate. VAT should be computerised with the Industry Price and taxed!!

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