The Government is taking all efforts to strengthen the real economy and it is for RBI to decide the next course of action on the monetary policy front.
This was stated by Jayant Sinha, Minister of State for Finance, on the sidelines of a conference organised by the Public Affairs Forum of India.
He was responding to reporters’ queries around the US Fed decision to hold interest rates unchanged due to the recent global developments, especially in China.
"I have always been maintaining that we have a favourable environment (for policy rate cuts). It is for the RBI Governor Rajan to decide for himself after balancing out the latest developments," Sinha told reporters.
He was responding to a query as to whether RBI should advance its monetary policy action and not wait till September 29 now that the US Fed decision is in place.