....While RBI’s assessment that interest rate cut is not likely to drive GDP growth but might push up inflation, Samiran Chakrabarty of Standard Chartered Bank questions what will make this assumption change. “Unless we get a clear answer to that regardless of how much GDP falls, the argument could easily be that interest rates are not the primary drivers of growth today, so why even cut them? To me, we are going by 5.6% GDP growth for the next release but I do not think even that will be big enough for RBI to shift their bias more towards growth.”........
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