Clearly, the recent developments suggest that RBI would not like to risk cutting the key policy rates for the sake of moderating inflation. A cut in the SLR from 24% to 23% is however an intelligent move. The continued decline in the growth rate must concern one and all. To what extent can the country afford to sacrifice the growth rate for containing inflation is a moot question.
- Srinivasan Umashankar, Nagpur (FE)
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