RBI Monetary Policy Stance Positive for Growth Revival: Rashesh Shah, President, FICCI

Jun 06, 2018

NEW DELHI, 6 June 2018: Commenting on today's monetary policy statement announced by RBI, Mr. Rashesh Shah, President, FICCI said, "Today's 25 bps rise in repo rate by RBI is based on the ground realities and it indicates towards the positive sentiments in the economy." 

 

"Recovery in Indian economy that has come on the back of structural reforms like GST, Bankruptcy Code and RERA is firming up, and investments have started to see an uptick; RBI stance would boost the animal spirits and confidence of businesses," added Mr. Shah.

 

"The improvement in growth seen lately needs to be supported to ensure a firm turnaround of economy with capability of sustained high growth," he said.

 

"The manageable inflation situation and optimism in the economy is set to continue going ahead and the GDP growth rate in the current financial year would be around 7.5%," added Mr. Shah.