Finance Minister underlines need for cheaper credit to boost exports.
Finance Minister underlines need for cheaper credit to boost exports. Finance Minister Mr. P Chidambaram today said that the government is committed to giving boost to exports and is in talks with the Reserve Bank of India to make export credit cheaper. He was speaking at an interactive meeting with leading exporters, organized by the Federation of Indian Exports Organizations, FIEO. Mr. Chidambaram said, the government has been responsive to the suggestions made by exporters and has taken several measures to simplify import-export related procedures. He said, the Padmanabhan Committee has studied the issue of export credit in detail but mentioned that putting exports under priority sector might affect some other sectors. Under the priority sector lending Banks lend 40 % of their loans to sectors such as agriculture and small scale industries. 59-60 per dollar is the right level for Rupee Speaking about the exchange rate of the Rupee, Mr. Chidamb...