Inflation is expected to stay below 4% for next 12 months, price stability is maintained & this gives room for rate cut when growth has slowed, Das says.
Bad news is suddenly pouring down on the economy & RBI is coming to govt’s rescue without running any immediate risk of exposure to its own credibility.
Shaktikanta Das said the move by some banks, such as SBI, to link their lending rates to the benchmark repo rate is 'encouraging' but expects borrowing costs to move lower faster.
I would not like to specify how long it (economic slowdown) will last. India is today in a far better place than most of the major economies, Das says.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
Also from stagnant exports.