Repo rate would bring macro balance in system: Montek

Reacting over the Reserve Bank of India's (RBI) decision to hold repo rate and cut CRR by 25 basis points, Deputy Planning Chief Montek Singh Ahluwalia today said that the repo rate on hold would bring back macro balance in the system. Ahluwalia also added that the need of the hour is to bring down the inflation rate. Ahluwalia also added that as stated by Prime Minister Manmohan Singh, the immediate priority is to revive the growth momentum in the economy. He also appreciated the cut in CRR calling it a step in a right direction.