This is a confidence-boosting measure and comes as a pleasant surprise. We had expected the issue to be covered in the recent federal budget.
It's a big relief to see the economy back on track after weaker figures in December. The key sectors show growth which should be sustained going forward.
The fresh hike could be a pre-emptive measure but we are surprised as we expect inflation to ease marginally in the coming weeks.
I am happy fiscal reforms are on track. There is an impetus on social infrastructure and attention paid to key sectors like automobiles, textiles and consumer goods.
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