The need of the hour is for monetary policy to complement the fiscal policy and strengthen the growth impulses that are slowly building in the economy: Mr Sandip Somany, President, FICCI
NEW DELHI, 7 February 2019: Commenting on the Monetary Policy Announcement by RBI earlier today, Mr Sandip Somany, President, FICCI said "It is a welcome beginning and we are happy to note that RBI?s MPC has decided to change the stance of Monetary Policy from calibrated tightening to neutral. There is also a firm recognition of the need to strengthen private investment activity and buttress private consumption. While FICCI had hoped for a larger cut in the repo rate, we believe that the cut of 25 basis points will be followed up with more such measures in the subsequent months."
FICCI MEDIA DIVISION
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