Central govt welcomes repo rate cut by MPC says DEA Secretary Subhash Chandra Garg
The MPC held its third Bi-Monthly Meeting in Mumbai on Wednesday.
Garg further said that this was as an important step necessary to converge toward the appropriate real monetary conditions for sustained growth consistent with India’s potential and for stable, moderate inflation.
He said, “We have taken note of the statement of the MPC and its assessment of the inflation and growth outlook. We welcome the 25 basis points cut in the repo rate as an important step necessary to converge toward the appropriate real monetary conditions for sustained growth consistent with India’s potential and for stable, moderate inflation."
Image: FinMIndia/Twitter
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