RBI rate cut important step for sustained growth: economic affairs secretary

The Reserve Bank of India`s decision to cut interest rates on Wednesday was an "important" step for ensuring sustained economic growth, a top finance ministry official said.

The comments from Subhash Chandra Garg, economic affairs secretary in the finance ministry, came minutes after the central bank cut the policy repo rate by 25 basis points to 6 percent, the lowest since November 2010.

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