India's economic growth is expected to pick up in the coming two quarters with an increase in government spending even as private investment lags, according to Monetary Policy Committee (MPC) member Nagesh Kumar.
Kumar was one of the two external members of the Reserve Bank of India's MPC who voted for a 25-basis-point rate cut to help revive growth, which according to him has seen a serious decline and warrants policy attention.
In the MPC minutes released on Friday, Kumar, one of the six members of the rate-setting panel, noted that slower growth largely reflected the weakness of the industrial sector, deteriorating the employment sentiment in Q2.
This story is from the December 23, 2024 edition of Mint New Delhi.
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This story is from the December 23, 2024 edition of Mint New Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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