'Rate cut will boost growth'

Seeking top priority for economic growth, chief economic advisor Kaushik Basu today said the Reserve Bank of India (RBI) should cut the key interest rate further to give a push to sagging growth this financial year.

Given that the economy was doing poorly and investment mood was down, some easing in the form of repo (cut) was worthwhile at this juncture, Basu told reporters after delivering a commemorative lecture by the Export-Import Bank of India here.