WPI inflation data signals weak demand & allows RBI to further cut rates to support an economy headed for first annual contraction in more than four decades.
With inflation expected to decline in the coming months, it will allow the Reserve Bank of India to keep the door open for more policy easing to boost credit demand.
The RBI implemented a series of five consecutive rate cuts starting February this year by a cumulative 1.35%, a move, governor Shaktikanta Das says, had surprised markets early in the year.
RBI has already cut interest rates by 135 basis points in five moves this year & last week’s weak data gives it added reason to continue pushing for growth.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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