FICCI welcomes 50 bps cut in CRR

Dec 06, 2024

Expecting a repo rate cut in the next policy statement

NEW DELHI, 06 December 2024: Commenting on monetary policy, Mr Harsha Vardhan Agarwal, President, FICCI said, “While the Reserve Bank of India’s stance on the repo rate was widely expected, we welcome the 50-bps cut in the CRR rate. This move is well-timed and practical and should help ease out the liquidity situation supporting credit and overall growth.”

“On inflation front, the prices are expected to moderate in the latter part of current fiscal year. We look forward to a cut in repo rate in the next policy statement,” added Mr Agarwal.

Food prices have been driving the current spurt in prices and a seasonal correction is on anvil. It is pertinent to ensure a seamless supply side framework through better planning, logistics and distribution management of food items leveraging careful monitoring of production data.