Zee Media Bureau
New Delhi: With some signs of the economy recovering, Finance Minister Arun Jaitley on Monday said a rate cut by the Reserve Bank will be a bonus for the growth.
Rate cut by the Reserve Bank of India will be a good fillip to the economy, he said.
With the RBI maintaining status quo in its rate cut since January, there are very little signs that the central bank will cut rates when it comes out with its monetary policy review on December 2.
However, with signs of the economy recovering, the call for rate cut have been all the more louder especially with the fall in inflation rate.
While the Wholesale Price Index (WPI) inflation felt to a five year low of 1.17 percent for October, the Consumer Price Index CPI) inflation cooled to 5.52 percent in the same month. Besides, industrial output grew to three-month high of 2.5 percent in September.
These signs of the economy recovery have prompted the industry to fix its eye on the RBI to cut rate in its next policy review.
