Mumbai, Aug. 6 -- As the Reserve Bank of India's Monetary Policy Committee keeps the policy rates unchanged on Wednesday, Economists have largely welcomed the decision to hold the policy repo rate steady, viewing it as a balanced approach.

The economists highlighted that this move reflects both confidence in the domestic economy and caution amid global uncertainties.

Ranen Banerjee, Partner and Economic Advisory Leader at PwC India, said the MPC has rightly pushed the pause button as there is no urgent need for another rate cut.

"The growth forecast has been retained at 6.5 per cent, which may come under some mild pressure but may not be very off, with a 10-20 bps downside risk. Any downsides on the external front are likely to be cush...