NEW DELHI: The Finance Minister Arun Jaitley hailed the decision of RBI to cut the interest rate, saying it is positive for the Indian economy and will certainly help in reviving the investment cycle the government is trying to restore.This is one of the important move from Jaitley.
"The RBI decision to cut the interest rate will lead to more money in the hands of the consumer for greater spending."
"It is positive for the Indian economy and it will certainly help in reviving the investment cycle the government is trying to restore," said Jaitley who has been nudging the central bank to ease the interest rate to lower the cost of capital.
Earlier in the day, the RBI cut interest rate by 0.25 per cent to 7.75 per cent.
READ MORE:
RBI rate cut signals shift in policy direction: CEA
South Australia Offers Clean Energy And Water To India
Flipkart To Make 10,000 Sellers Millionaires In 2015
