![](https://www.udayavani.com/wp-content/uploads/2024/12/aadtiya-thackeray-pti-415x233.jpg)
RBI rate cut to complement government’s measures to boost growth: Finmin
Team Udayavani, Oct 4, 2019, 3:52 PM IST
![](https://www.udayavani.com/wp-content/uploads/2019/10/RBI-2-620x372.jpg)
New Delhi: The Finance Ministry on Friday said the Reserve Bank’s decision to lower benchmark lending rate will complement recent measures taken by the government to accelerate growth.
Earlier in the day, RBI cut the repo rate by 25 basis points to 5.15 per cent.
Government has noted the reduction in repo rate from 5.40 per cent to 5.15 per cent announced by the Monetary Policy Committee (MPC) and believes that this will complement the recent measures taken by the government to accelerate growth, an official statement released by the Finance Ministry said.
The government has taken a slew of measures since August 23 to pull the economy out of a six-year low growth and a 45-year high unemployment rate by reviving private investments.
Last month, the government cut corporate tax rate by almost 10 percentage points, a move which has a tax implication of Rs 1.45 lakh crore.
As part of the exercise, the government also withdrew enhanced surcharge on long- and short-term capital gains for foreign portfolio investors as well as domestic portfolio investors with revenue implication of Rs 1,400 crore.
It further said that the government has also taken note of revised growth projections of MPC at 6.1 per cent for 2019-20 along with growth projections made by other bodies, including the IMF, ADB, among others.
The government has further taken note of higher projection of headline inflation by MPC for 2019-20, which is within the band of 3-4 per cent and well within the target range, it said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
![](https://www.udayavani.com/wp-content/uploads/2023/05/IndianClicks_GVega_Udayavani_300x250_12032021_1_1.gif)
Related Articles More
![](https://www.udayavani.com/wp-content/uploads/2024/12/aadtiya-thackeray-pti-150x84.jpg)
Aaditya slams Karnataka Cong MLA for demand to make Mumbai a Union Territory; says ‘won’t tolerate’
![](https://www.udayavani.com/wp-content/uploads/2024/12/kapil-pti-file-96x115.png)
Ashwin deserved a fitting farewell: Kapil Dev
![](https://www.udayavani.com/wp-content/uploads/2024/12/rajnath-150x94.jpg)
India moving forward at ‘unprecedented’ speed under Modi Govt: Rajnath
![](https://www.udayavani.com/wp-content/uploads/2024/12/mohan-majhi-pti-150x77.png)
‘This type of violence has no place in democracy’: Odisha CM on Sarangi’s injury in Parliament
![](https://www.udayavani.com/wp-content/uploads/2024/12/vpn-pti-150x84.png)
VPNs, proxy servers complicate bomb threat investigations, says Delhi Police
MUST WATCH
Latest Additions
![](https://www.udayavani.com/wp-content/uploads/2024/12/aadtiya-thackeray-pti-150x84.jpg)
Aaditya slams Karnataka Cong MLA for demand to make Mumbai a Union Territory; says ‘won’t tolerate’
![](https://www.udayavani.com/wp-content/uploads/2024/12/kapil-pti-file-96x115.png)
Ashwin deserved a fitting farewell: Kapil Dev
![](https://www.udayavani.com/wp-content/uploads/2024/12/beltangadi-elec-150x65.png)
Belthangady boy dies due to electric shock while setting up Christmas decorations
![](https://www.udayavani.com/wp-content/uploads/2024/12/rajnath-150x94.jpg)
India moving forward at ‘unprecedented’ speed under Modi Govt: Rajnath
![](https://www.udayavani.com/wp-content/uploads/2024/12/mohan-majhi-pti-150x77.png)
‘This type of violence has no place in democracy’: Odisha CM on Sarangi’s injury in Parliament
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.