Ganesh Gupta, President, FIEO while commenting on anticipated unchanged interest rates due to inflationary risks (MSP increase/commodity prices unwinding/fiscal slippage) stated that for the export credit, which was in the priority sector had shown a decline of -2.5 per cent in 2016-2017 and a YOY decline of -8.7 per cent in 2017 needs to be addressed as exports growth is forecasted at 15 per cent in the Union Budget and if that be the case then cost of funds should not act as a deterrent for export business.
