Rate cut worth a debate

The report, “Corporate India says rate cut not enough” (August 4) by Arnab Dutta, Ajay Modi, Shubham Parashar and Amritha Pillay is worth a good debate. 

The Reserve Bank of India (RBI) Committee on Monetary Policy did not have a unanimous opinion on rate cut. It is hard for two economists to agree on one rate cut; each one will have his or her thesis on it. So what figure for the rate cut is the most appropriate to jump-start industrial growth? I am not sure there is a single answer to this. 

In some countries what impact a zero rate had