In a significant development for the Indian economy, the Reserve Bank of India (RBI) has announced a reduction in the repo rate by 25 basis points to 5.75%. This move is aimed at boosting economic growth and encouraging investments in the country. The decision was made by the RBI’s Monetary Policy Committee (MPC) after its bi-monthly meeting. This rate cut comes as a welcome relief for many sectors, especially the real estate and auto industries, which have been facing a slowdown in recent months. The repo rate is the rate at which the RBI lends money to commercial banks, and a reduction in this rate usually leads to lower interest rates on loans for consumers. This is expected to stimulate spending and investment in the economy. The RBI also revised its GDP growth forecast for the current financial year from 7.2% to 7%. The central bank has been proactive in its efforts to support economic growth, and this rate cut is seen as a step in the right direction. The decision has been well-received by industry experts and is expected to have a positive impact on the overall economic sentiment in the country. The RBI’s move is likely to lead to lower borrowing costs for businesses and consumers, which could spur demand and revive economic activity. Overall, this rate cut is seen as a positive development for the Indian economy and is expected to provide the much-needed impetus for growth in the coming months.