By Admin 
India GDP Growth: The country’s economy will grow at the rate of 6.5 percent during the current financial year and will not face any challenge in it. This is to say that M. Nagesh Kumar, a member of the Monetary Policy Committee – MPC. During an interview with news agency PTI, he openly expressed his opinion on the country’s economy to the Indo-US deal. He said that at a time when one-third of global economies are going through a debt crisis, India’s economy remains in a better position.
Boost from domestic consumption and investment
M. Nagesh says that the Indian economy rests on domestic consumption and domestic investment than export or business. Because of this, India is still moving fast. He further said that there is no problem in the way of growing at the rate of more than 6.5 percent of the Indian economy at the rate of more than 6.5 percent.
Along with this, in response to a question on inflation, he said that the current Consumer Price Index (CPI) based inflation is about 2 percent. This is a result of a policy adopted by MPC or RBI to a large extent and now it has come under the purview of the target.
Will repo rate be cut?
When the member of the RBI Monetry Committee was asked whether there is scope for further rate cuts for RBI? In response to this, he said that it will depend not only on inflation figures, but on all various large figures. He further said that if inflation comes down by 2 percent in a month, it does not mean that it will remain at this level.
Significantly, this year the major policy rate repo has been cut by the central bank by one percent. Official data shows that the main inflation in June has come down to 2.1 percent against the target of four percent.
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