.....There is trouble ahead for the Indian economy. On Monday, the International Monetary Fund (IMF) pared its growth forecast for the Indian economy this year to 6.1% from 6.8% earlier. On the same day, the governor of the Reserve Bank of India (RBI), D. Subbarao, said inflation continued to be above the central bank’s comfort zone. This is a clear hint that interest rates may not be brought down as quickly as the government and businesses want.........
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