The Reserve Bank of India (RBI) has again established its independence and refused to act under pressure. RBI’s contention that rate cuts will have little effect on growth is correct. The onus is now on the government to recast its economic priorities to address supply side constraints and increase the purchasing power of the aam aadmi.
N Ramamurthy Chennai
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
