Time to junk the status quo

 ......Only two days ago, Reserve Bank of India governor Duvvuri Subbarao withstood mounting pressure to cut interest rates from local businesses who had been arguing that the steep cost of raising loans had upset their capacity expansion plans. A status quo on interest rates, however, isn't good news for millions of families caught in a pincer attack of rising prices and high borrowing costs. Surging food costs have shrunk household incomes, as consumers have to pay more for the same goods.........

Read - Hindustan Times