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Finance Minister Arun Jaitley has welcomed the RBI decision to reduce repo rates. Talking to reporters in New Delhi, Mr Jaitley said, RBI rate cut actually implies that inflation has moderated significantly and is now in comfort zone. Mr Jaitley said, the government is committed to meeting fiscal deficit targets and the decision by the RBI will help in recovery process. The minister said, RBI rate cut will help economic recovery process.Speaking on the occasion, Chief Economic Advisor Arvind Subramanian said government is looking to transmission of RBI’s rate cuts to rest of the economy, and will work with the apex bank on this.

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