Latest News
Credai NCR
Source Name: Credai NCR

CREDAI NCR & Parsvnath Developers Ltd. Comments on Fifth Monetary Policy

Dec 02, 2014   14:14 IST 
India

As RBI has kept key rates unchanged in its Fifth Monetary Policy today, please find appended quote from Mr. Rohit Raj Modi, President, CREDAI NCR and Mr. Pradeep Jain, Chairman, Parsvnath Developers for your kind consideration.

 

Mr. Rohit Raj Modi, President, CREDAI NCR on today’s RBI Monetary Policy:

"It is quite evident that RBI is under the status-quo. It is looking towards curbing inflationary factors. However, a rate cut would have been a boon for the sector at a time when it is coming out of a not so good festive seasons. A mere reformatory announcements from the government would not do much if it is not supported by monetary liberty. We expect RBI would consider this while its next review and would lower key rates to boost real estate"

 

Mr. Pradeep Jain, Chairman, Parsvnath Developers Ltd.

"RBI is only looking towards taming inflation. It is overlooking the pressure being borne by key sectors. The recent fall in manufacturing growth is a live example. The overall GDP growth forecast has also been cut by many experts. RBI should understand that curbing inflation at the cost of growth is not a wise step. It should stand up and cut the rates in its next review to pump fund into the economy and the real estate sector in particular which is one of the major contributors to the GDP."


 
 
For press background on Credai NCR

click here