Expect RBI to cut interest rates next month; Budget must focus on job creation: CII president

NEW DELHI: Industry body CII expects the RBI to cut the benchmark interest rates next month to support sagging growth, its President Sanjiv Puri said on Wednesday and stressed the need to boost job creation through targeted interventions for labour-intensive sectors in the upcoming Budget.

In an interview with PTI, Puri flagged “sticky” food inflation, highlighting the need to build agricultural resilience and de-linking it from the interest rates under the inflation targeting framework, arguing that it is on account of climate change and not really influenced by the monetary policy.

Puri is also the Chairman and Managing Director of ITC.