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RBI expects growth to pick up from Q2 on govt spending, says there is possibility of more rate cuts

Mumbai: Reserve Bank governor Shaktikanta Das Friday exuded confidence that second-quarter GDP numbers will be better than the previous one as the government has started spending again.
Attributing the 5 percent GDP growth in Q1, which is a six-year low and is even lower than that of Pakistans 5.4 percent, to very low government spending, Das said with the centre opening its coffers again growth should pick up going forward.
RBI Governor, @DasShaktikanta says bigger role on economic growth lies with the Govt pic.twitter.com/U0QgIYBofh — CNBC-TV18 (@CNBCTV18Live) September 20, 2019
The governor also welcomed the government announcement in the morning to slash corporate tax across the board and termed the same as bold moves which should benefit all sectors.
In a major fiscal booster, the government slashed effective corporate tax to 25.17 percent inclusive of all cess and surcharges for domestic companies.