India's finance minister outlines measures to boost consumption and private investment
thehindu.com — February 8, 2025, 01:01 PM UTC
Finance Minister Nirmala Sitharaman announced that recent fiscal and monetary measures aim to boost consumption and private investment. The Budget introduced significant income tax cuts, allowing individuals earning up to ₹12.75 lakh to pay no taxes. On February 7, the Reserve Bank of India cut the policy rate by 25 basis points, marking its first reduction in five years. This move is intended to support economic growth. Sitharaman noted early signs of recovery in consumption, with businesses reporting increased orders for consumer goods. She emphasized the coordinated efforts between the government and the RBI to enhance growth and manage inflation.