Repo rate hike BJP’s return gift to voters, says Isudan Gadhvi

In a video shared by the Gujarat AAP, Gadhvi added that the state’s middle class is in pain. “The inflation was already there and now this increment in the repo rate. The loans for cars and houses will also increase... increasing the installments, and thus the burden (on individuals),” said Gadhvi.

Gadhvi hails from Pipaliya village in Devbhumi Dwarka district’s Jamkhambhaliya block in the coastal Saurashtra region and belongs to an OBC community. (PTI)

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Repo rate hike BJP’s return gift to voters, says Isudan Gadhvi

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Aam Aadmi Party (AAP) Gujarat president Isudan Gadhvi on Wednesday said the Reserve Bank of India’s decision to increase the repo rate as the BJP’s “return gift” to the voters.

“The votes that you gave to the BJP… they have fixed a ‘return gift’ for you by increasing the RBI’s repo rate by 25 points. They had increased the jantri rate (annual statement of rates) recently, and now this. Those who want to buy a house, their dream to own a house will remain a dream…,” said Gadhvi.

In a video shared by the Gujarat AAP, Gadhvi added that the state’s middle class is in pain. “The inflation was already there and now this increment in the repo rate. The loans for cars and houses will also increase… increasing the installments, and thus the burden (on individuals),” said Gadhvi.

RBI has increased the repo rate by 25 base points, making the rate as high as 6.50.

First published on: 08-02-2023 at 20:13 IST