PR No – 464
6th October, 2023
Maintaining status quo of the current repo rate will stimulate the economy further: PHD Chamber
Status quo on repo rate by RBI will boost economic activity and strengthen economic growth, said Mr. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry.
We are pleased to see that, despite declining global growth, our economy grows more than 7% every year during the post pandemic years, said Mr. Agrawal.
Declining CPI inflation, enhanced domestic demand, manageable external sector and twin balance sheet advantages will act as a boost to India’s growth, said Mr. Agrawal.
This is the time to remain vigil, and prepare for policy accommodations, he said.
Momentum in the agriculture sector especially during the 2Q of FY 2023-24, recovery of the industrial sector, momentous investment activity with government CAPEX support, buoyant service sector are leading to a resilient domestic growth, said Mr. Agrawal.
We envisage further support from the government and the RBI to keep the economy growing, said Mr Sanjeev Agrawal, President, PHDCCI.
PHD Chamber of Commerce and Industry