This refers to the editorial "Status quo, firmly" (April 2). The Reserve Bank of India (RBI) has done its best in the prevailing socio-economic conditions where the election code of conduct is in place. Economic fundamentals remain stagnant, except perhaps the current account deficit and a reducing trend in inflation. It is not certain how and in what shape the fiscal policy will be under the new government. By keeping policy rates unchanged and not succumbing to the pressures of the market, the RBI governor has played his cards well, and the suspense of the monetary policy remains intact.
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T V Gopalakrishnan Bangalore
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number