P Chidambaram welcomes RBI rate cut of 0.5%https://indianexpress.com/article/business/banking-and-finance/p-chidambaram-welcomes-rbi-rate-cut-of-0-5/

P Chidambaram welcomes RBI rate cut of 0.5%

P Chidambaram said more policy steps by RBI were possible if the government stayed firmly on path of fiscal consolidation.

Reserve Bank of India, RBI rate cut, P Chidambaram, Chidambaram RBI, RBI repo rate, RBI interest rates, Reserve bank,
Former Finance Minister P Chidambaram.

Former Finance Minister P Chidambaram on Tuesday welcomed the 0.50 per cent cut in interest rate announced by the Reserve Bank of India (RBI) saying it was overdue.

“I welcome the decision of RBI to reduce the repo rate by 50 basis points. This was perhaps overdue.

ALSO READ: Loan rates may get cheaper as RBI cuts interest rates by 50 bps

“Nevertheless, it signals a movement towards a lower interest rate regime and it is therefore welcome,” he said. He said more policy steps by RBI were possible if the government stayed firmly on path of fiscal consolidation.

[related-post]

“If government stays firmly on the path of fiscal consolidation and fiscal prudence, we can look forward to more policy steps by the RBI,” he said.