Not RBI alone

In his column “The RBI’s free pass” (Policy Rules, August 11), Mihir S Sharma is too strident in singling out the Reserve Bank of India (RBI) for the drop in net profit margins of the sampled companies and for the decline in growth. Margins depend on input costs also, more so in the manufacturing sector in which non-availability or high cost of raw materials (like minerals) and power and transportation take a heavy toll........

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