Onus on Government

The central bank's monetary policy stance has eased, never mind much loud disappointment at its reluctance to cut policy rates. The cut in the cash reserve ratio (CRR) by a quarter of a percentage point to 4.25%, releasing Rs 17,500 crore of loanable resources for the banks, and 'reasonable likelihood of further policy easing in the last quarter of 2012-13' amount to accommodation of the economy's growth needs.

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