Mumbai: Reserve Bank of India RBI Governor Shaktikanta Das expressed confidence on Friday that the GDP growth rate in the second quarter of the current financial year will be better. He said that the government has started spending again, this will improve the GDP growth figures in the second quarter compared to the first quarter.Finance Minister made many big announcements for housing and export sector, know the big things in the press conference

The government’s tax collection is far behind the target, a growth of 4.7 percent in April-September Das attributed the government’s extremely low spending to lower GDP growth in the first quarter to a 5-year low of 6 years. He said that the government has again opened its treasury, this will accelerate economic growth in the coming time.

Das, while welcoming the government’s announcement to reduce the rate of corporate tax, said that this is a big step and all sectors will benefit from it. The government has reduced the effective rate of corporate tax by about 10 percent to 25.17 percent, giving a major relief on Friday. Das said that if further figures remain positive, the repo rate can be further reduced in this situation. However, he cautioned the government to introduce fiscal expansion and appealed for structural reforms related to immediate labor and land.