Mr Sanjay Palve – Senior Managing Director, Essar Capital shares his views on RBI’s Monetary Policy statement

“The RBI has maintained an accommodative stance by not changing the repo and reverse repo rate, which was very much needed. GDP growth at 7.8 percent for FY 23 looks practical, as the impact of pandemic is diminishing and there is optimism in the economy especially after the Union Budget. With the enhanced capital expenditure outlay to the tune of Rs.7.5 lakh crore, it will provide the necessary impetus to the infrastructure sector, bringing the economy back on track. Mass vaccination drive by the government, has helped to keep the pandemic in check. With PSU banks in much more stronger position due to continuous policy measures from RBI, businesses can look forward to ease in long term availability of funds.”

Mr Sanjay Palve – Senior Managing Director, Essar Capital