New Delhi, Aug 02: Finance Minister Jaswant said on Friday that low interest rates were right for the economy at the moment despite the effect they were having on savings. "I think soft interest rates are a right step and it should happen," Singh told the Lok Sabha in response to a question on how the government plans to boost savings while interest rates are falling.

Interest rates have fallen sharply over the last year with the benchmark bank rate now standing at a three-decade low of 6.5 per cent.
Bureau Report