India’s Ex-Finance Minister Says Rates Should Be Lower
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India’s former Finance Minister Palaniappan Chidambaram joined his successor in advocating lower interest rates, while stopping short of endorsing the current administration’s budget.
“I would like interest rates to drift down,” Chidambaram, who served as India’s finance minister for much of the 10 years to mid-2014, said in an interview in Singapore on Saturday. “Growth was sluggish, but it has recovered, and one must ensure that the recovery is sustained.”