Union Finance Minister Nirmala Sitharaman on Saturday said that a rise in interest rates is largely dependent on the growth estimates of India and China. The finance minister added that the interest rates have fallen due to the ongoing global economic slowdown. "The rise in interest rates is largely dependent on India and China`s growth estimates. In other words, on their (India and China) performance depends the rest of the global growth also," Sitharaman told media after addressing the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB) in Washington.
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