How India Inc is Reacting to RBI Rate Cut

The auto sector was also seen to be satisfied with the recent decision by the RBI and the Central Government. Manufactures like Mahindra, Fiat and others has said that the decrease in the interest rate will offer an open choice to the auto consumers.

Mr. Chandrajit Banerjee, Director general of Confederation of Indian Industry (CII) said to ‘My digitalfc’: “RBI’s decision to ease the monetary policy sends out a positive signal that the central bank has now joined hands with the government to revive the growth momentum of the economy, which had to so far largely focused on containing inflation. Government’s continued thrust on reforms along with the downtrend in WPI-based inflation has provided necessary legroom for RBI to maneuver its policy in favour of growth. However, CII would have been happier with a larger reduction in repo rate”.

India Inc is extremely hopeful on the combined decision of RBI and the Central Government. This decision will bring life to the starving economic growth of the nation.

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