RBI must pause rate hikes: Sanjiv Bajaj

Confederation of Indian Industry (CII) President Sanjiv Bajaj believes that a pause in rate hikes would be a positive signal for the industry as high interest rate is constraining the manufacturing sector. According to him, the Reserve Bank of India (RBI) has already delivered the requisite doses of rate hikes to curb inflation and should now focus on growth. He further stated that in the short to medium term, job creation should be one of the main priorities for the government. Bajaj has recommended introducing an employment-linked incentive scheme on the lines of production-linked incentive (PLI) scheme in sectors like tourism, logistics and animation to create more jobs.