RBI rate action to help revive investment: Mukherjee

NEW DELHI Tue Apr 17, 2012 1:57pm IST

Finance Minister Pranab Mukherjee speaks during a business meeting in New Delhi July 7, 2009. REUTERS/Vijay Mathur/Files

Finance Minister Pranab Mukherjee speaks during a business meeting in New Delhi July 7, 2009.

Credit: Reuters/Vijay Mathur/Files

Related Topics

NEW DELHI (Reuters) - The Reserve Bank of India's (RBI) decision to cut its key interest rate, by an unexpectedly sharp 50 basis points, will help revive investment, Finance Minister Pranab Mukherjee told reporters on Tuesday.

The central bank cut interest rates on Tuesday for the first time in three years, lowering its policy repo rate to 8.00 percent, in a bid to revive a slowing economy.

Mukherjee also said the government would take additional steps in coming weeks to bolster economic growth.

(Reporting by Arup Roychoudhury; editing by Malini Menon)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Market Eye

REUTERS SHOWCASE

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

Mircosoft Results

Microsoft Results

Microsoft revenue rises, profit falls as Nokia absorbed  Full Article 

Relief For Sahara

Relief For Sahara

Supreme Court could allow Sahara boss to conduct asset sale talks, company says.  Full Article 

Photo

Food Scandal

Five held in China food scandal probe, including head of Shanghai Husi Food   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage