Union Power Minister Piyush Goyal on Tuesday welcomed repo rate cuts announced by the Reserve Bank of India (RBI), saying that the central bank's decision will contribute towards nation's growth.
Array
"I am very happy that a framework has been set for aggressive growth in the future," Goyal told media.
Array
Finance Minister Arun Jaitley had earlier in the day said the central bank's decision will significantly provide policy support to the real economy and help in the recovery process.
Array
Also Read
The RBI on Tuesday announced a cut in the Repo Rate by 50 bps to 6.75 percent, while the Cash Reserve Ratio ( CRR) remains unchanged at four percent.
Array
RBI Governor Raghuram Rajan had also asserted that the central bank aims to get the inflation rate down to five percent by the end of fiscal 2016-17.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app