Slow Growth Rate

Policy priority should be on restoring the inflation-growth balance, said Shaktikanta Das, former Reserve Bank governor, while voting for a status quo on the short-term lending rate earlier this month. Das, and three other members of the rate-setting panel -- Monetary Policy Committee -- voted in favour of keeping the repo rate at 6.25 per cent, while the other two members favoured reduction in the rate. In its December bi-monthly monetary policy, the Reserve Bank of India (RBI) kept repo rate unchanged but cut the cash reserve ratio that banks are required to park with the central bank, as it did a balancing act between inflation management and supporting economic growth. With India's GDP seeing a sharper-than-anticipated dip in the July-September period to 5.4 per cent -- its slowest pace in seven quarters -- inflation on the uptick and rupee under pressure, the RBI had few choices to make. "The policy priority at this critical juncture has to be on restoring the inflation growth

They also support a rate cut to avoid the risk of sharp currency appreciation if India does not normalise interest rates when most other global central banks have already embarked on an easing cycle

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For the first two months of this financial year, growth in the output of the core industries stood at 6.5%

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Slow GST refunds and low growth in labour-intensive sectors, besides a volatile currency, could pull back India's export growth in February, data for which are set to be released later today