Monetary Policy to help tame inflation :FM

The Union Finance Minister Shri Pranab Mukherjee has said that the monetary policy announcement by Reserve Bank of India (RBI) would help in getting us back to a more comfortable inflation situation soon while leaving scope for growth to pick up in the second half of current fiscal year. The Finance Minister Shri Mukherjee was responding to the RBI today™s announcement vide which it has increased the policy repo rate by 25 basis points from existing 8.25% to 8.50%. The reverse repo rate has also gone up from 7.25% to 7.50%. The Finance Minister Shri Mukherjee said that the RBI Governor has chosen to reinforce his commitment to moderate inflation and check inflationary expectations, in the face of continued stickiness in headline inflation. Shri Mukherjee said that this has implications for credit costs and investment growth. The Finance Minister said that we are looking at all options for strengthening investment sentiments in the coming months.

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