"The near static price line and benign inflation outlook should propel the RBI to continue with its rate easing cycle in its forthcoming monetary policy to support investment and consumption demand especially as industrial production has recorded a muted performance and the consumer goods sector has moved into the negative terrain in May," Confederation of Indian Industry director general Chandrajit Banerjee said in a statement here.

PHD Chamber of Commerce and Industry Alok B.Shriram said, "Subdued wholesale price inflation will help manufacturing sector in terms of increased price cost margins vis-a-vis decreased cost of raw materials."

Regarding pulses and onions that continued to remain costly, Sriram opined, ”The government needs to check the rising prices of pulses and take adequate steps in advance so that prices of pulses are in comfortable trajectory in the coming times." "We urge the RBI to reduce the repo rate at least by 50 basis points in the forthcoming credit policy and another 100 points by end 2015", he added.

FICCI president Jyotsna Suri cited, "There is a critical need to firm up industrial growth. We hope that the Reserve Bank would maintain its accommodative stance in  the third bi-monthly statement for 2015-16 to be announced next month."

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