by JLL India
Mr. Shobhit Agarwal,
Managing Director – Capital Markets, Jones Lang LaSalle India:
The Reserve Bank of
India (RBI) announced certain monetary measures in its 3rd quarter review on
29th Jan. 2013. Some of the key policy measures are –
*
0.25% reduction in repo rate from 8 % to 7.75 % (consequent adjustment
to reverse repo rate to 6.75 %)
* Reduction of bank rate to 8.75 %
* Reduction of CRR
(Cash Reserve Ratio) by further 0.25% to 4%
The RBI has taken a huge positive step by
announcing the above policy measures.
RBI has shown commitment to improving liquidity in a cash strapped
economy by reducing the CRR further in this policy coupled with reduction in
repo & bank rates.
Liquidity is expected
significantly improve in the economy on the back of the reduced repo rate, CRR
& bank rate. Consequently, there
should be a revival in investment and growth – including in the real estate
space. Industrial activity, which has been sluggish last year (2012), should
bounce back in the medium term.
Inflation should also
witness some easing with at least the supply side being addressed &
cost-push pressures being mitigated. The RBI’s policy is definitely a key to
boosting real estate market sentiment &
sending out positive signals to global investors.
About the author
Mr. Shobhit Agarwal
is Managing Director (Capital Markets), at Jones Lang LaSalle India
For Media Contact:
Arun Chitnis,
Assistant Vice President, Marketing
Jones Lang Lasalle
India , Level 6, Amar Avinash Corporate Plaza
Bund Garden Road,
Pune - 411001.
Tel: 020 - 30930441 Fax: 020- 40196101
Mob: +91 93227 38464
Website:
www.joneslanglasalle.co.in
Blog:
www.joneslanglasalleblog.com/realestatecompass
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