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India rate cut "a step in the right direction"

Wednesday, January 30, 2013 - 01:03

India's finance minister says he welcomes the decision by the country's central bank to lower its key policy rate on Tuesday. Rough Cut (no reporter narration).

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(ROUGH CUT ONLY - NO REPORTER NARRATION) In an interview with Reuters Television, the Indian finance minister Palaniappan Chidambaram said the central bank's move was a step in the right direction. On Tuesday it cut interest rates by 25 basis points to 4.00 percent as it fights the country's slowest growth in a decade.

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India rate cut "a step in the right direction"

Wednesday, January 30, 2013 - 01:03