............The confusing signals sent by the IIP and inflation data will give the central bank much to think about. While poor industrial data demands another interest rate cut to juice the economy, the inflation figure will make the central bank wary about rushing into any reckless interest rate action. Overall, the numbers might force the RBI to hold steady on rates. To be sure, the prognosis of the economy at the moment does not look encouraging. A global slowdown, combined with a local slowdown and high inflation present a lethal mix for India’s straining economy. In the absence of any government steps to introduce significant econ0mic reforms, get set for a prolonged phase of stagflation, India.
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