(RTTNews) - The Confederation of Indian Industry (CII) called for more cut in key policy rates, export concessions and a rise in infrastructure investments to lift economic growth, reported the PTI.

The CII’s entreaties come ahead of the announcement of a proposed second stimulus plan by the government. The industry body has demanded cut in monetary measures by up to 100 basis points. It said that the RBI should slash repo rate to 5.5% and reverse repo rate to 4% to meet domestic liquidity requirements, to stimulate demand and due to the downward trend in inflation.

The industry body also recommended a refinance window for the commercial vehicles sector and the relaxation of provisioning norms for commercial vehicles and micro, small and medium enterprises. On the fiscal side, the CII demanded duty drawback rates and a cut in interest rates on export credit for the textile sector, which has warned of a large-scale layoff in the months ahead.

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