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The Finance Ministry has welcomed the RBI's move to reduce repo rate by 25 points, stating that such a move would provide a near term boost to economy.
Future rate cuts would depend on future data, Jayant Sinha, Minister of State for Finance, told reporters.
Jayant Sinha said the goal of budget was to get the economy to achieve non-inflationary growth.
On stalled projects, Sinha said there is data to show that several stalled projects are now getting unclogged.
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