RBI balanced view with status quopolicy rate

The Reserve Bank of India defines a positive roadmap for economic growth with a balanced view. The continuance of accommodative stance on the policy rate is on the back of confidence instilled by RBI in India’s steady GDP growth rate as projected. A status quo is maintained on the key rates as economy looms over uncertainities due to the new strain of Omicron virus buds in.”

 “With the Indian economy reflecting a ‘K-shaped’ recovery, there is an urgent need to uplift reeling sectors like Manufacturing, MSMEs and Services which are crucial for equitable economic growth. Measures that give a boost to job creation are an absolute priority. Stakeholders in the Indian economy look forward to enhanced Government spending in terms of capex for infrastructure growth and the possibilities of a deficit need to be overlooked in favor of spending to spur economic growth,”

Real estate will benefit from the low home loan interest rates which continue as a result of the RBI MPC’s decision, and home buyers should make the most of historic low home loan interest rates regime.

Dr. Niranjan Hiranandani, Vice Chairman National – NAREDCO, and MD Hiranandani Group