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Jaitley Hails RBI Decision to Cut Interest Rate

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Jaitley Hails RBI Decision to Cut Interest Rate

A file photo of Finance Minister Arun Jaitley

New Delhi: Finance Minister Arun Jaitley hailed the decision of RBI to cut the interest rate, saying it is positive for the Indian economy and will certainly help in reviving the investment cycle the government is trying to restore.

"The RBI decision to cut the interest rate will lead to more money in the hands of the consumer for greater spending.

"It is positive for the Indian economy and it will certainly help in reviving the investment cycle the government is trying to restore," said Mr. Jaitley.

Earlier in the day, the RBI cut interest rate by 0.25 per cent to 7.75 per cent.

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