New Delhi, June 6 (IANS) Finance Minister Piyush Goyal on Wednesday welcomed the monetary policy announcement by the RBI, saying it confirmed that economic activity was on the upswing in the country.
"Coming on the back of robust GDP growth, lower consumer inflation, strong GST collections and positive investor sentiment, I welcome RBI's monetary policy which confirms that economic activity is on the upswing and expects a boost to investments from swift resolution of NPAs (non-performing assets)," Goyal said in a tweet.
The Reserve Bank of India (RBI), in its bi-monthly policy review, raised its key interest rate, for the first time since January 2015, by 25 basis points, responding to concerns on inflation from surging global crude oil prices.
The apex bank, however, maintained its 'neutral' stance on future rate hike trajectory allowing it to move either way on rates.
--IANS
vv/vd
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)
We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.
Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.
The Quint is available on Telegram & WhatsApp too, click to join.
Read and Breaking News at the Quint, browse for more from hotwire-text
Topics: ians
ADVERTISEMENT