..............Despite government pressure on the RBI to ease monetary policy, most market participants expect the central bank to leave rates unchanged at its policy review on Oct. 30, due to concerns over inflation and the fiscal deficit. "As we have articulated time and again, it (monetary policy) has to be in tandem with the fiscal policy," HR Khan, a Deputy Governor of the RBI, said in answer to questions levelled during a banking conference. "It has to be a joint venture. It is not a solo play. Fiscal deficit is one major concern in the macroeconomic scenario so that has to be handled ... Supply-side response is also needed for inflation management." .........
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