He also expressed hope that interest rates will reach a point where it would become attractive to boost investments.

If "at least one and a half per cent is pass through", borrowing rates would become "attractive" for investments, he added.

In the last calender year, the RBI reduced key policy rates by 1.25 percentage points to 6.75 percent.

When asked about the outlook on economic growth, he said in the current fiscal, the economy may grow by 7.2 percent to 7.4 percent.

During the second quarter of this fiscal, the GDP witnessed a growth of 7.4 percent.

On the Goods and Services Tax (GST), the new President said it is better to have a comprehensive GST than flawed tax regime.

Industry feel that GST will come and it might finally happen for the good, he added.

The GST Bill is stuck in the Rajya Sabha where the ruling NDA government does not have a majority. The opposition is demanding three key changes in the bill.

The government had planned to roll out GST from April 1.

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