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with RBI rate cut, Banks now see fall in interest rates

Mumbai, November 1: With the Reserve Bank of India taking a number of steps to shield the economy from the spillover effects of the global financial crisis, bankers on Saturday said that the steps would induce banks to cut lending rates like commercial, home, auto loans as well as deposit rates. Soon after the RBI ....Read more

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india business factBy: P ROY | Monday , 3 Nov '08 14:39:01 PM Reply | Forward I DON NOT THINK THIS TYPE OF STEPS ARE PRACTICALLY GOING TO MAKE ANY CHANGE IN INDIAN BUSINESS ECONOMY. CONSIDERING INCOME TAX ADDED WITH THE TAX PART OF THE COST OF ANY ITEM IN MARKET, IT CAN BE ESTEEMATED ROUGHLLY TO BE ABOUT 80-85% OF THE TOTAL PUBLIC MONEY OR MONEY AT PURCHASER FRONT ARE ACTUALLY AVAILABLE IN INDIA TO GROW BUSINESS. THIS 80-85% OF TOTAL PUBLIC MONEY OR MONEY AT PURCHESER'S END HAS NO CONTRIBUTION TO THE BUSINESS MARKET AT ALL IN INDIA. BUT ONE MUST SAY THAT IN SUCH SITUATION DECREASE OF TAX LIABILITY I. E. LIABILITY OF GOVERNMENT FROM THE SOULDER OF THE PUBLIC IS VERYMUCH REQUIRED AND SHOULD TRY TO MAKE PUBLIC MORE COMFORTABLE WITH MORE MONEY AVAILABLE AS WELL AS MAKE BUSINESSMEN MORE COMFORTABLE WITH LESS TAX/DUTY LIABILITY TO CONTINUE THE BUSINESS OF OWN COUNTRY TO GO IN POSITIVE DIRECTION.

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