Finance Minister Nirmala Sitharaman emphasized the need for more affordable bank interest rates to alleviate the stress of borrowing, particularly as industries aim to expand and build capacities. Currently, the Reserve Bank of India"s repo rate stands at 6.50 percent, unchanged for the last ten monetary policies, with a recent shift to a neutral stance from withdrawal of accommodation.
Prashant Jain, founder and CIO of 3P Investment Managers, views the current slowdown in consumption as a positive development, emphasizing its sustainability without reliance on debt. He cautioned that consumption driven by rising leverage can lead to demand moderation, highlighting the Reserve Bank of India's efforts to address excessive growth in unsecured retail loans.
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