Shriram, what you told is absolutely correct. This stupid fellow was stubborn in not reducing the interest rates and was responsible for slowing down the rate of growth. And now he is talking about growth! He should be thrown out of Reserve Bank.
Inflation is very high. Common man is affected very much with this inflation. Current interest rates are very low. It must be revised upward. Persons living on interest income are in very very bad situation. Interest must be revised upward. Banks must give atleast 11 percent interest on f. D.
Yes.IIP figures so far does not appear to be conclusive evidence of growth momentum picking up. So the RBI should act as a moral booster to ensure that growth is headed towards a lasting positive growth.
IIP numbers have been up and down over the last year plus and one months data does not indicate recovery or otherwise. It is well known that our GDP growth has plummeted to 4.5% for the third quarter of 2013 which is below the worst estimates also.
To boost growth RBI needs to cut key interest rates and revive the investment cycle since core inflation has touched 4% or so or else we would totally stall growth and the recovery process.