00:00The Indian Reserve Bank has announced a reduction of 0.25% in the repo rate today.
00:07A few days ago, the Prime Minister Narendra Modi's government
00:10announced a reduction in the annual income of up to Rs 12 lakhs in the common budget.
00:17This is the second time when the middle class has been given freedom.
00:22After the RBI's reduction, the repo rate has become 6.25%.
00:26This will give more money to the people of the country.
00:29Their purchasing capacity will increase, which will increase the enjoyment of goods.
00:34That is, the market will get a kind of boost.
00:37And overall, the economic system will be strengthened.
00:41Since taking over the reins of the country in 2014,
00:44under the leadership of Prime Minister Narendra Modi,
00:47the central government has taken continuous steps
00:50to strengthen the economic development and economy of the common people.
00:55If we look at the figures of the Reserve Bank of India,
00:58it becomes clear that in 2014, the RBI's repo rate was 8%.
01:03After coming to power, PM Modi continued to strengthen the economic system
01:08and as a result of that, the repo rate was continuously reduced.
01:12On 22 May 2020, the repo rate had reached 4%.
01:17If we leave a little gap in 2018,
01:21when a small increase was made in the repo rate,
01:24then the figures clearly show that in 6 years of Modi government's tenure,
01:28the repo rate had reduced to half,
01:30that is, it had reduced from 8% to 4%.
01:35Due to the reduction in the repo rate,
01:37the interest on home loan, car loan and business loan was reduced.
01:41And during this period, the people of the country bought a lot of houses,
01:44bought cars, as well as spent a lot on enjoyable things.
01:48With this, the economic system of the country also progressed day and night.
01:54After the year 2020, due to the outbreak of the global pandemic COVID-19,
01:58not only India, but the whole world was affected by the economy.
02:02Then on 13 May 2022, the RBI announced an increase in the repo rate to 4.40%.
02:10After that, by 7 December 2022, the repo rate increased to 6.25%.
02:17Before this, the repo rate in the country was only 6.50%.
02:21Today, RBI Governor Sanjay Malhotra has announced a decrease to 6.25%.
02:28After the year 2020, that is, this is the first time in 5 years when the repo rate has been reduced.
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