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Jaitley Pushes Case for More India Rate Cuts Before Rajan Review

  • GDP growth could improve with better monsoon, global demand
  • Finance Minister speaks to Bloomberg TV on trip to Sydney
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Jaitley Sees More Growth Potential for India

Finance Minister Arun Jaitley made the case for more interest rate cuts a week before India’s central bank reviews policy, saying that a reduction in borrowing costs would help bolster Asia’s third-biggest economy.

Banks will soon be in a better position to lower “high" interest rates after the central bank took steps to improve transmission after four rate cuts last year, Jaitley said in an interview with Bloomberg TV in Sydney on Wednesday. The government has also reduced rates on small savings programs that compete for deposits with commercial banks.