........Timing it perfectly — just a day before the Reserve Bank of India was to unveil its monetary policy – the release seemed to be a desperate effort to nudge the RBI into action. The RBI in the past has called for the government to contain the deficit before it can aggressively reduce interest rates. This seemed to be a bid to show that the government is on the case, so the central bank can act. Not surprisingly, the RBI didn't act. It clearly prefers to await the evidence than pay heed to over-optimistic statements......
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