April 4, 2019 / 7:21 AM / 3 months ago

India’s finance minister says will seek to enable more rate cuts

India's Finance Minister Arun Jaitley attends a news conference sharing details about the recapitalisation of public sector banks in New Delhi, India, January 24, 2018. REUTERS/Saumya Khandelwal

NEW DELHI (Reuters) - India’s finance minister said on Thursday that if re-elected the government would continue with fiscal consolidation and pursue policies to enable further reduction in interest rates, after the central bank cut its benchmark interest rate by 25 basis points.

Voting in India’s general election begins next week, and the result will be known on May 23.

Speaking at an industry event, Finance Minister Arun Jaitley also said the government would look at reducing the goods and services tax on cement.

Prime Minister Narendra Modi is seek a second term in a general election that will begin next week. Voting will be staggered across the country over several weeks and the result will be known on May 23.

Reporting by Aftab Ahmed

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