“We appreciate RBI’s efforts to maintain an accommodative stance. The unchanged Repo rate is understandable despite a spurt in inflation, which has been primarily driven by disruptions in supply chain, excessive margins and indirect taxes. However, it is imperative that going forward there is a cap on lending rates for low cost funding in order to boost the demand, the growth and the new wave of investments. This and the central bank’s recent measures along with appropriate reforms for an Atmanirbhar Bharat will definitely fuel the country’s economic revival. Improved growth projections are also reflective of an optimistic recovery led by a visible increase in urban and rural demand.”

Mr. Rajiv Agarwal, MD& CEO, Essar Ports Ltd.