India's finance minister is calling for price cuts, as well as a drop in interest rates, to stimulate demand as growth slows in the nation of 1.2 billion people. Palaniappan Chidambaram says, despite the global economic crisis, a dip in Indian exports and investors pulling money out of the country, India's economy will be back on its high-growth track in six to 12 months.
印度财政部长呼吁削减物价，并且降低利率，以在这个有着12亿人口的国家经济增长放缓的情况下刺激需求。财政部长奇丹巴拉姆说，尽管全球经济危机使印度出口下降，投资者也把资金撤出印度，但是印度经济将在6到12月的时间里回到高增长轨道。
India's finance minister is deriding the "gloom and doom" enveloping the domestic economic mood, contending Prime Minister Manmohan Singh's government is working "24-7" to take steps to fend off the ill effects of a global slowdown.
印度财政部长嘲笑了有关本国经济笼罩在“阴郁和末日般”情绪的说法，说印度总理辛格的政府正在夜以继日地工作，采取办法抵挡国际经济增长减速带来的负面影响。
Speaking at a summit of the World Economic Forum in New Delhi Tuesday, Palaniappan Chidambaram called for Indian consumer lending rates to drop several points from the current 13 percent level. He also says industries - instead of sitting on inventory - need to accept a temporary cut in profits to retain market share and do their part to stimulate consumer demand.
星期二在新德里举行的世界经济论坛的一个首脑会议上，奇丹巴拉姆呼吁将印度消费者借贷利率从目前的13%下调数个百分点。他还说，产业界不应该坐在库存货物上，而是需要接受利润的临时性下降，以保住市场份额，并且为刺激消费需求而努力。
"Hotels must cut tariffs. Airlines must cut prices. Real estate must cut prices of homes and apartments they sell. Carmakers, two-wheeler makers must cut prices," he siad. "The classic response to a demand slowdown is to cut prices for a short time."
他说：“旅馆必须减低价格。航空公司必须降价。房地产业必须削减它们销售的房屋公寓的价格。汽车生产商和两轮车制造者也必须要降低价格。应对需求放缓的最佳反应就是在短期内削价。”
The finance minister acknowledged some of the other challenges facing India's economy: billions of dollars being repatriated by foreign institutional investors, declining exports and a depreciating rupee against the dollar.
印度财政部长承认印度经济面临着其他挑战：数十亿美元被外国机构性投资者撤回，出口在下降，而且卢比对美元也在贬值。
Some international economists say India's economic overseers are still too concerned about inflation, preventing them from taking immediate steps to cut interest rates. But domestic observers point out that the government, with an eye on elections, is worried about a backlash at the polls, if it cannot keep food prices under control.
Chidambaram says, even if India's annual growth rate dips to seven percent from its recent yearly increases of about nine percent, that would be no reason don "sack cloth and ashes." He predicts, although there will be a slowdown, the agricultural sector - employing about half of all Indians - remains healthy and the country's overall economy will quickly be back on track.
奇丹巴拉姆说，尽管印度的年增长率从近年来的9%以上的速度跌到7%，但是没有理由因此就要悲哀。他预言说，尽管增长将会放缓，雇佣着大约一半印度人的农业部门仍然是健康的，而且印度的整体经济将很快会回到轨道。
"By the end of 12 months, we will back to the normal growth that we would like to have. There's no reason to spread gloom and doom," he said. "There are negatives, but there are positives. We should emphasize the positive and send out a message of confidence and our ability to overcome this crisis."
他说：“到12个月结束的时候，我们将恢复我们所乐见的正常增长。没有理由散播阴郁和末日般的情绪。虽然有不利的方面，但也有积极的方面。我们要强调积极的方面，传达出有信心和能力渡过这场危机的信息。”
The finance minister cautions action should not be taken based on the daily gyrations of the Mumbai stock market.
印度财政部长告诫说，不应该根据孟买股票市场的每日循环去采取行动。
His comments come following the Group of 20 crisis summit of world leaders. Prime Minister Singh and the finance minister attended the meeting.
Chidambaram says the G-20 has surpassed the G-7 as the "single-most important forum for financial and economic issues of the world." |