A section of economists believe the RBI is beginning to give more importance to consumer price index (CPI) than the wholesale price index (WPI). New RBI governor Raghuram Rajan had raised the repo rate — or the rate at which the apex bank lends to banks — to 7.50 per cent, stunning markets and industry. Usually, the RBI closely tracks the WPI numbers before taking policy actions, but indications seem to be otherwise.....
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