February 7, 2019
PHD Chamber hails cut in repo rate, softening monetary policy stance
While welcoming the 25 basis points cut in repo rate from 6.5% to 6.25% by RBI in today’s review of monetary policy, the industry body, PHD Chamber of Commerce and Industry said in a press statement issued here today that it will stimulate demand, boost investments, enhance exporters’ competitiveness and growth of the industrial sector.
While common man will be benefited with softening of EMIs on loans; the ripple effect of rate cut will enable small business to fulfill their credit requirements, said the PHDCCI
The industry body congratulated the Government and RBI on various calibrated steps to stabilizing the price situation and maintaining the high growth trajectory.
Going ahead, PHDCCI expect more reduction in the repo rate in the coming times to further boost the demand scenario, growth of manufacturing activity and enhanced production possibility frontiers in the economy.
Koteshwar Prasad Dobhal