The growth drivers

.....The role of RBI Governor D Subbarao assumes significance now in issuing final guidelines on fresh banking licences which would help increase the saving rate in the economy, again required for economic growth. The issue facing policy makers is sliding growth and high inflation. It is here that Subbarao’s skills would be assessed in 2013-14. Though he did not budge even before North Block on rate cuts in much of 2012, he would have to ensure that growth is not curtailed further by the sole focus on inflation which many say could be tackled by supply side measures rather than tightening noose on money supply............

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