Repo rate cut, trade deal with the US and the country's economic growth... RBI's monetary committee revealed the entire strategy:

News Topical, Digital Desk : India GDP Growth: The country's economy will grow at a rate of 6.5 percent during the current financial year and will not face any kind of challenge. This is what RBI's Monetary Policy Committee (MPC) member M. Nagesh Kumar said. During an interview with news agency PTI, he openly expressed his opinion on everything from the country's economy to the India-US deal. He said that at a time when one-third of the global economies are going through a debt crisis, India's economy remains in a better position.

Boost from domestic consumption and investment

M. Nagesh says that the Indian economy is based more on domestic consumption and domestic investment than on exports or trade. Because of this, India is progressing rapidly even today. He further said that there is no problem in the way of Indian economy growing at a rate of more than 6.5 percent in the current financial year and next year.

Along with this, in response to a question on inflation, he said that the current Consumer Price Index (CPI) based inflation is around 2 percent. This is largely the result of the policy adopted by the MPC or RBI and now it has come within the target range.

Will the repo rate be cut?

When the RBI monetary committee member was asked whether there is scope for RBI to cut rates further, he said that it will depend not only on inflation figures but also on all the various macro figures. He further said that if inflation comes down to 2 percent in a month, it does not mean that it will remain at this level.

It is worth noting that the central bank has cut the key policy rate repo by one percent this year. Official data shows that core inflation in June has come down to 2.1 percent against the target of four percent.