New Delhi, Dec. 5 -- Industry bodies Federation of Indian Chambers of Commerce and Industry (FICCI), EEPC India and All-India Association of Industries (AIAI) on Friday welcomed the Reserve Bank of India's decision to cut the policy repo rate by 25 basis points to 5.25 per cent.

FICCI President Anant Goenka said that the 25 bps reduction would help stimulate credit offtake and lower borrowing costs.

"The upward revision of estimated GDP growth for the current fiscal to 7.3 per cent from 6.8 per cent, as announced in the policy today, combined with a stable and benign inflation outlook, reflects the continued resilience of the Indian economy and the positive impact of sustained policy and reform measures - including the rationalisation o...