The road to 7% growth does not run through RBI—it runs through de-bottlenecking projects

Yesterday’s RBI’s review was reduced to a side-show for two reasons. Markets have been obsessing about the role of monetary policy for months on end, but were suddenly made to realise that there are far greater risks to the current political and economic climate when a key ally of the government pulled out a few minutes after the announcement. Understandably, this drowned out RBI’s rate cut—the second in two meetings—and could have far bigger economic implications in the coming weeks and months.