RBI: It's time to cut interest rates

These are the facts of the Indian economy that the RBI is confronted with for its meeting on March 19 for the future course of monetary policy: Economic growth the lowest in the last decade, and among the lowest in the last three decades. Consumer price inflation, especially food inflation, the highest in over two decades. After the 1991 reforms, consumer price inflation has averaged 7 per cent per annum.

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