Time ripe for rate cut, says fin secy

The finance secretary further said the income tax relief granted to the middle class may also prompt some individuals to park the money in savings accounts and some to invest in assets

- 

"Were the outside situation favourable, it would have shown in export momentum, but that's not the case...we're a labour surplus economy, we could have boosted production, but that's not happening."

In the present scenario, the growth rate projected by the Economic Survey seems realistic, he said. The survey has projected growth in FY26 to be in the range of 6.3-6.8%.