Piyush Goyal expresses happiness over RBI's rate cuts, praises Governor Das

Union Minister of Railways and former Finance Minister Piyush Goyal on Friday expressed his happiness over the rate cuts announced by the RBI. He also praised the RBI Governor Shaktikant Das. "I am glad that the Governor of the RBI seems to have made the right moves in the last five months," he said while speaking to reporters here.

On being asked if the rate cuts should have come earlier, Goyal said, "I wish everybody was as persistent in the effort to promote growth." The Union Minister added, "Heinous crime of politician needs to be brought out in the public and India needs to know about those politicians. Such politicians should not be given space in politics." Goyal also talked of the advantage of Electoral bonds while claiming that his party is seriously working to bring legitimate money in the election.

"Electoral bonds advantage is that there is anonymity but you can give it to any party and nobody will know about it. We as a party had decided not to accept money without cheque or bond," he said while asserting that Electoral bonds have an important role in good governance. The Reserve Bank of India (RBI) on Thursday cut repo rate for the second consecutive time this year to 6 per cent from the current 6.25 per cent, a move that will cheer industry leaders over relief from high borrowing costs a week before the first phase of General elections. 

(With inputs from agencies.)