……It is critical that the RBI should cut the repo rate and should start doing that now. For, every passing week means a loss of 21.8 billion rupees in investment, 73.6 billion rupees in GDP and 30,000 in employment. The deeper the cut, the sooner the economy will recover. But the rise in repo during inflation was in baby steps; and the fall may not be faster. At best a 25 bps is likely next week when the RBI goes in for its quarterly review. That is not enough but can at least be the beginning.……
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