Luck only gets you so far in India with growth sliding below 5%

Many big economies have been stalling, but it's hard to think of another where growth has come down to earth this quickly

With India’s growth tumbling to 4.5 per cent from 8.1 per cent in little more than a year, you’d be surprised to know that Shaktikanta Das has one of the easiest jobs in central banking. He just has to keep doing what he's been doing since becoming governor of the Reserve Bank of India last December: Cut interest rates. Fortunately, political will is on his side.

That’s an enviable state of affairs for a central banker these days. Just look at Federal Reserve Chairman Jerome Powell, who has become a constant target of President Donald Trump’s Twitter tirades. It’s also face-saving