Sanjay Palve, Senior Managing Director at Essar Capital Ltd. “The Reserve Bank of India’s decision to keep the repo rate unchanged at 6.50% and maintain a ‘withdrawal of accommodation’ stance, today demonstrates a responsible approach to monetary policy and aligns with our expectations in this dynamic economic scenario. This constancy offers businesses a clear and stable monetary environment during a period of fiscal challenges and uncertainties. It’s essential for boosting investor confidence and facilitating long-term strategic planning. This choice conveys a strong message of resilience and stability as we navigate the complex economic environment, supporting India’s continuous efforts toward sustainable growth”.
Pankaj Kalra, CEO, EOGEPL
“RBI’s Monetary Policy decision reaffirms our resolute commitment to guide India’s economic trajectory. Keeping the key policy repo rate steady at 6.5% underscores our dedication to stability. Despite global uncertainties, fluctuating commodity prices, and geopolitical challenges, we persist in our efforts to ensure economic resilience. Although there are concerns due to the volatility and rise in crude oil prices which are causing inflationary pressures, we do not expect this to impact India’s macroeconomic fundamentals much. While the global economy slows down due to tight financial conditions, projecting a 6.5% GDP expansion in FY24 and anticipating around 5.4% inflation, India stands firm as a pillar of stability and fortitude in the global arena”.
Rajiv Agarwal, MD & CEO, Essar Ports
“RBI’s Monetary Policy rightly focuses on India’s commitment to macroeconomic stability and fundamental growth. The decision to maintain the repo rate unchanged at 6.5% for the fourth consecutive time reflects RBI’s prudent approach in sustaining economic equilibrium, while the 5.4% inflation outlook underscores its dedication to price stability. This will help capital spending and investments to flow in the Ports & infrastructure sector and contribute to the India growth story.”
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