Faint glimmers of hope

.....The Reserve Bank of India’s (RBI) next credit policy review will probably not raise rates. The weak IIP and lower crude prices mitigate against further rate increases. But the central bank might not lower rates by much either, if it does so at all. In any case, a rate cut by RBI will not be enough to put the animal spirits back in the economy. If Dr Singh is going to do this, he will have to take fast and decisive policy action. His political window of opportunity may be quite small.......

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