In wake of the inflation taking a dip for sixth consecutive month, the NDA Government has advised the Reserve Bank of India (RBI) to cut interest rates further.
Addressing a press conference here, Finance Minister Arun Jaitley reportedly stated that he favoured the rate cut.
The minister hinted that the government would like all the help it can get to prompt industries to invest, developers to build and consumers to borrow.
He further said the economy was on the road to recovery with macro-economic indicators like inflation and fiscal and current account deficits under control, adding that Foreign Direct Investment (FDI) into India had risen by 40 per cent in 2014-15 compared to the previous year.