Recent cut in repo rate by 35 basis points as a strong step to boost the economy: Dr Rajiv Kumar

NITI Aayog Vice-Chairman Dr Rajiv Kumar yesterday said that the government has taken several steps to boost the economy and it is contemplating some more steps to get back the economy on a rising trend. 

Mr Kumar said, some of the measures announced in the Union Budget- 2019-20 are related to attracting private investments in the country including in Railways. 

He said, the government has also



announced in the budget to support private investors and also to open different sectors of the economy for Foreign Direct Investment including permitting 100 per cent of FDI in insurance broking sector.

Dr Kumar also termed the recent cut in repo rate by 35 basis points as a strong step to boost the economy. He said, reduction in the interest rate will generate investment.