There is very little space to raise revenue, said Shaktikant Das:Shaktikanta Das hopes,Reducing the rate of US Federal Bank will raise the country’s funds, mostly through direct foreign investment (FDI), where the government has little room to raise revenue, the Reserve Bank of India said on Thursday.
He was speaking at the Bloomberg India Forum in Mumbai. He added that the international situation was in a challenging state. In his words, “The pace of international growth is low, central banks around the world are trying to ease their debt, but the situation has not changed yet.” Shaktikant Das said his hope is that the US Federal Bank’s rate cut will raise the country’s funds, most of them through FDI. The Federal Open Market Committee lowered their policy interest rate by 25 basis points to move from 1.75 to 2.00