‘Rising inflation, interest rates major issues for economy’
April 21st, 2011 - 4:11 pm ICT by IANS
New Delhi, April 21 (IANS) Rising inflation, input costs, oil prices and steep interest rates are the major issues that are threatening the growth momentum of the Indian economy, a top Hero Group official said.
“The high growth rate that the government has set may be impacted due to these factors,” Sunil Kant Munjal, chairman of Hero Corporate Service Limited, told reporters on the sidelines of Hero Mindmine Summit 2011 here.
According to Munjal, the Hero Group is currently unaffected from these factors, but smaller businesses in the economy may be affected.
“Since smaller businesses do not have a very high credit rating, they would be affected by high interest rates and this will have an impact on the long-term investments in the economy.”
Replying to a question on the positive impact on the industry of a good monsoon prediction, Munjal said: “Well, a good monsoon is of course good for the agriculture and if agriculture grows by four percent, then it will definitely have a good impact on the services and manufacturing sectors as well.”
- 'Rising inflation, interest rates major concerns' (Lead) - Apr 21, 2011
- Hero Motors' to launch new products during Indian F1 - Sep 02, 2011
- Global slowdown, reason for lowering growth projection: RBI - Oct 25, 2011
- Hero MotoCorp to set up manufacturing plants in Africa - Mar 20, 2012
- India's exports may falter due to global economic turmoil: FICCI - Aug 07, 2011
- Plan panel expects GDP growth in 2011-12 to slip from 8.5 percent (Lead) - May 31, 2011
- `Eurozone crisis to dent Canadian growth' - Jan 19, 2012
- Hero Motocorp's Q3 net profit up 43 percent - Jan 19, 2012
- Industrial output grows 3.6 percent in February - Apr 11, 2011
- Economists divided on impact of rate hikes on India's growth - Sep 20, 2011
- A global crisis but Indian economy strong: Mukherjee (Lead) - Aug 06, 2011
- India to return to 8-9 percent growth: President (Second Lead) (With image) - Mar 12, 2012
- Environment good for boosting India-Pakistan trade: Gilani - Feb 16, 2012
- Rising interest rates affect industrial output, lowest in over 2 years - Nov 11, 2011
- India rated 'extreme risk' economy for investors - Feb 25, 2011
Tags: agriculture, credit rating, growth momentum, hero group, hero mindmine, high interest rates, indian economy, inflation, input costs, kant, manufacturing sectors, monsoon, munjal, New Delhi, oil prices, service limited, sidelines, summit, term investments