Room for more rate cuts but govt has little room for fiscal expansion: Das

"Despite rising external risks, domestic economy is resilient as foreign debt is only 19.7 per cent of GDP," said the RBI governor

RBI governor Shaktikanta Das said on Thursday there is room for interest rate cuts to spur economic growth given stable and below-target inflation, but the government has little scope for fiscal expansion.

"Global growth is slowing down and central banks across world are bracing up to counter it by easing monetary policy; but there is no recession as yet," said Das, according to news agency ANI.

"Despite rising external risks, domestic economy is resilient as foreign debt is only 19.7 per cent of GDP," he said, according to PTI

Das, who was speaking at the Bloomberg India economic summit in Mumbai, took charge