Comments of Mr. Rohit Raj Modi, President, CREDAI NCR on RBI Policy

Mr. Rohit Raj Modi, President, CREDAI NCR comments on RBI monetary policy:

“Citing favourable macroeconomic conditions, the government and the industry have also been asking for further rate cuts to lower the cost of capital, while RBI had faced a lot of criticism till last month for maintaining a highly hawkish monetary stance. Even after last month's rate cut, RBI's move was minimal, and industry expected that RBI should have slashed the repo rate, to infuse some positive sentiments in the market. The decision to keep the rates unchanged denotes the long term strategy of RBI. It seems that RBI board wants all the key indicators to be in full control before unleashing pro-growth agenda.

We are expecting that in the upcoming Union Budget government would announce some more reformatory measures in the form of tax revision  to give some ease and cheer to manufacturers and developers for reducing the cost of their product.”