Worries over growth

As the Reserve Bank of India meets to determine what it will do in the first-quarter review of monetary policy, due on July 31, it should keep a few things in mind. First, that India’s growth has collapsed due to sinking investment is beyond doubt. Much of the reason is weak business sentiment, and while the primary responsibility for changing the mood belongs to the Union government in New Delhi; the management of expectations is also the province of the monetary authority. 

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