Making exports a Priority Sector will strengthen economy, says FIEO President
The Dollar Business Bureau | @TheDollarBiz M. Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO), says that while the Reserve Bank of India’s decision to reduce the statutory liquidity ratio (SLR) of commercial banks by 50 basis points will provide the necessary liquidity, making exports a priority sector could improve India’s overall economy. M. Rafeeque Ahmed, President, FIEO Priority sectors are those sectors which may not get timely and adequate credit in the absence of this special dispensation, says RBI. At present, priority sectors include farmers, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections for loans. Export credit is also under the PSL list, as per RBI’s February 2014 ...
