PR No – 71
8th April, 2024
New Delhi
RBI Policy status quo will propel economic growth: PHDCCI
Softening of headline inflation towards 4.5% will create scope for a repo rate cut, says industry body PHDCCI
RBI’s decision to maintain a status quo on its policy rates will propel economic activity and boost economic growth, said Mr. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry, in a press statement issued here today.
The continuously accelerating economic growth and softening inflation trajectory, coupled with the status quo in repo rate will lead to much higher GDP growth in FY2025, said Mr. Agrawal.
We expect a repo rate cut as and when headline inflation softens around 4.5%, said Mr Agrawal.
As the third quarter of FY23-24 GDP surprised with a significantly high growth of 8.4%, the current financial year is also expected to give such surprises on the back of robust economic activity and enhanced resilience of the economy, said Mr Agrawal, President, PHDCCI.
Warm Regards,
Media Division
PHD Chamber of Commerce and Industry