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.
RBI’s clear messaging & rate-cut path offer a lesson to peers. There’s no point targeting inflation if growth is waning & the thing you’re aiming at is dormant.
The last time this matter flared up was when Delhi Chief Minister Rekha Gupta, in a very similar directive in April, called for the relocation of stray dogs in the capital.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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