MUMBAI (Reuters) - Finance Minister Arun Jaitley said on Saturday he hoped interest rates and inflation would remain low to help revive the economy.
“We can look back with a sense of satisfaction over the last year. The Reserve Bank of India has also on four occasions taken positive steps as far as rates are concerned. Hopefully this movement is there to stay,” Jaitley said at an industry event in Mumbai.
Last month, the central bank cut its policy interest rate to a 4-1/2 year low of 6.75 percent, in a bigger-than-expected move, which, along with low levels of inflation, is expected to help a slowing economy.
Jaitely also said the government would soon announce measures to deal with the debts faced by the power industry.
Reporting by Suvashree Choudhury; Editing by Miral Fahmy