RBI: ‘Government and Reserve Bank will work together on inflation and growth rate’, Finance Minister said after repo rate reduced
New Delhi| Finance Minister Nirmala Sitharaman has said that the government and the Reserve Bank of India are working together on all fronts like inflation, growth rate etc. The Finance Minister held a joint press conference with Reserve Bank Governor Sanjay Malhotra and Minister of State for Finance Pankaj Chaudhary in New Delhi. This press conference took place at a time when the Reserve Bank had announced a cut in the repo rate a day earlier. Sitharaman said that she can present a new Income Tax Bill in Parliament next week, after which the bill will be sent to a parliamentary committee.
Reserve Bank Governor Sanjay Malhotra said that the Central Government is focusing on providing credit and work will continue in this direction in future also. The RBI Governor announced on Friday after the MPC meeting that the repo has been cut by 25 basis points. This has been reduced from 6.5% to 6.25%. From February 2023, the repo rate was kept stable at 6.5 percent. Earlier in 2020, interest rates were cut during the Covid pandemic, but after this, tax interest rates were gradually increased by 6.5 percent. The repo rate cut has been announced after a long time.
Finance Minister Nirmala Sitharaman said on the results of Delhi elections that it is the need of the hour that Delhi gets a government that serves the people. Speaking to reporters after addressing the central board of directors of the Reserve Bank, Sitharaman said that to achieve the goal of a developed India by 2047, the need of the hour is for India’s National Capital Region to have a government that serves the people. The Finance Minister further said that he strongly believes that in the roadmap set by the Prime Minister for the country, Delhi will be given top priority and all issues related to human development indicators and infrastructure, schools, hospitals and healthcare of the people. People will be served from every perspective.
