Govt didn't do its bit after April, says Subbarao

....... the decision to cut policy rates at the annual monetary and credit policy in April was not hasty. “It was necessary to front-load the rate cut and entailed expectation of some action from the government side, which did not happen,” he said, in response to a question on whether the central bank regretted the reduction in policy rates at the start of the financial year. He was addressing analysts and researchers at an interaction on Wednesday..........

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