Industry bodies welcome RBI’s decision to cut policy repo rate by 25 basis points to 5.25%

Industry bodies – Federation of Indian Chambers of Commerce and Industry, FICCI, EEPC India, All-India Association of Industries and the Federation of Indian Export Organisations have welcomed the Reserve Bank of India’s decision to cut the policy repo rate by 25 basis points to 5.25 per cent. President of Federation of Indian Chambers of Commerce & Industry (FICCI) Anant Goenka, welcomed the RBI’s decision to reduce the repo rate by 25 basis points, asserting that this calibrated easing will help stimulate credit offtake. He said the reduction will also reduce borrowing costs for industry and consumers, and reinforce the current growth momentum. He noted that the upward revision of estimated GDP growth for current fiscal to 7.3 per cent from 6.8 per cent, combined with a stable and benign