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No RBI repo rate cut was effected in the monetary policy review today with the status quo retained at 6.75% and reverse repo rate at 7.75%. RBI Governor Raghuram Rajan did indicate an accommodative stance saying with 'inflation moving closer to the target' there would be more room for rate cut to support growth.(Image Source: Reuters)<br>Here are top Governor Raghuram Rajan quotes:</br>
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1. Governor Raghuram Rajan quote: Going forward, under the assumption of a normal monsoon and the current level of international crude oil prices and exchange rates, inflation is expected to be inertial and be around 5 per cent by the end of fiscal 2017. (Image Source: AP)
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2. Governor Raghuram Rajan quote: The implementation of the 7th Pay Commission recommendations, which has not been factored into these projections, will impart upward momentum to this trajectory for a period of one to two years. The RBI will adjust the forecast path as and when more clarity emerges on the timing of implementation (Image Source: Reuters)
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3. Governor Raghuram Rajan quote: If the Budget makes enough structural reforms to boost growth, RBI could chip in with cheaper money to boost growth. (Image Source: Reuters)
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4. Governor Raghuram Rajan quote: The RBI continues to be accommodative even as it leaves the policy rate unchanged in this review, while awaiting further data on the development of inflation. (Image Source: Reuters)
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5. Governor Raghuram Rajan quote: Structural reforms in the forthcoming Union Budget that boost growth while controlling spending will create more space for monetary policy to support growth, while also ensuring that inflation remains on the projected path of 5 per cent by the end of 2016-17. (Image Source: AP)
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6. Governor Raghuram Rajan quote: Inflation has evolved closely along the trajectory set by the monetary policy stance. With unfavourable base effects on the ebb and benign prices of fruits and vegetables and crude oil, the January 2016 target of 6 per cent should be met. (Express Photo by Ganesh Shirsekar)
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7. Governor Raghuram Rajan quote: Expect 7.6 per cent GDP growth next fiscal notwithstanding significant headwinds. This is based on normal monsoons, the large positive terms of trade gains, improving real incomes of households and lower input costs of firms. (Express Photo by Ganesh Shirsekar)
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8. Governor Raghuram Rajan quote: The Reserve Bank will take steps to promote 'ease of doing business' and contribute to an ecosystem that is conducive for growth of the sector which will help create an enabling framework for getting foreign VC or PE funds into them. (Express Photo by Ganesh Shirsekar)
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9. Governor Raghuram Rajan quote: Indian economy is being viewed as a beacon of stability because of the steady disinflation, a modest current account deficit and commitment to fiscal rectitude. This needs to be maintained so that the foundations of a stable and sustainable growth are strengthened. (Express Photo by Ganesh Shirsekar)
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A top Finance Ministry official has also revealed that that Raghuram Rajan's extension as RBI governor is to be decided toward end of his tenure. He added that there has been no discussion so far in this regard and his fate will be decided closer to the end of his current tenure in September. (Express photo)<br><a href="https://twitter.com/FinancialXpress" target="_blank">For more business news and analyses, follow us @FinancialXpress </a><br>
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