Reaction from Mr. Avneesh Sood, Director Eros Group, basis the RBI’s decision to reduce repo rate

New Delhi, October 05, 2019: With the fifth consecutive repo rate cuts, this year is a positive outcome for the economy, especially in light of the sluggish economy. Recently the government has responded to the weakness in the growth momentum with various measures, including the lowering of the corporate tax rate and now the rate cut of 25 basis points to 5.15 percent taking the cumulative cuts to 135 basis points is a constructive move for the real estate sector and is expected to provide a substantial and broad-based boost to business sentiment in the immediate term, and is a long-term structural positive, although it would increase fiscal stress in the short-term. This will also encourage the customers to buy properties due to reduced interest on home loans, hence increasing the purchasing power of the common man.

Corporate Comm India (CCI Newswire)