Monetary policy committee meeting: Dholakia, Patra differ on inflation path

In Dholakia's assessment, core inflation is on a declining path with minor spikes

The minutes of the two-day monetary policy committee meeting show how retail inflation falling to a record low of 1.5 per cent in June changed the mood of interest rate hawks towards a cautiously optimistic outlook.
 
The Reserve Bank of India lowered the policy repo rate by 25 basis points to 6 per cent in the August 2 meeting, with four members of the Monetary Policy Committee (MPC) favouring a cut, as opposed to their status quo mood in June.
 
External member Ravindra Dholakia voted for a 50 basis point cut, while RBI Executive Director Michael Patra favoured