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Repo rate may be 'low' due to controlled inflation; Prime Minister Modi may get 'benefit' in the Lok Sabha elections

Tuesday - February 5, 2019 3:22 pm , Category : WTN SPECIAL
The 'good days' may come for the general public before the Lok Sabha elections
The 'good days' may come for the general public before the Lok Sabha elections

After rebate in the income tax, gift of ‘cheap loan’ may be for the general public 

FEB 05 (WTN) – Keeping in mind the regulated inflation rate, the Reserve Bank of India may cut its repo rate up to 0.25 per cent. According to the information, the six-member monetary policy committee, headed by the RBI governor, can announce new policy rates on Friday. It is being said that the RBI can change its attitude, but there is less chance of an increase in the repo rates. Considering the controlled inflation, it is being said that the Reserve Bank can do the first reduction in the policy rates from the month of April, and this reduction can be 0.25 per cent.

At present, the repo rate of the Reserve Bank is 6.50 per cent. On August 1, 2018; the Reserve Bank increased the repo rate by 0.25 per cent and raised it to 6.50 per cent. For your information, let you know that the repo rate is the rate at which the RBI lends to the banks. With this loan, banks lend to customers. If the repo rate is low, then it means that many types of loans from the bank will be cheap, and if the repo rate goes up, then it means that loans from banks will get expensive.

It is being said that there are many reasons that the Reserve Bank can reduce the repo rate. According to experts, controlled inflation and its low level can be a cause of decrease in the repo rate. The second reason is being pointed out that in the second fortnight of the January; there has been a decline in the credit growth. However, the Reserve Bank did not make any changes in the repo rate in the last three monetary committee meetings. At the same time, the Reserve Bank has increased the 0.25-0.25 per cent twice the repo rate in this fiscal year.

If the Reserve Bank reduces the repo rate, it is natural that taking loans from the banks and the EMI of the banks will be affordable, which will give direct benefit to the common people, and if this happens, then for Prime Minister Modi, this is not less than a boon in the Lok Sabha elections. 

After the declaration of the rebate in the income tax rates, if the general public gets the benefit of the cheap loan on low interest then due to it, Prime Minister Narendra Modi can get a lot of benefit in the general elections. Because Modi will be able to say during the campaigning that due to his policies inflation has been controlled and the loan became cheap. That is, if there is a reduction in the repo rate, it would be a big bet in the election for Prime Minister Narendra Modi in a way.

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