CEA to continue pressure for rate cut in Eco Survey's Part-II

Expected on July 22, it could have another detailed analysis on note ban

The second part of the Economic Survey for the financial year is likely to be introduced in Parliament on July 22.

While it will be heavier on data than on commentary compared with the one released on January 31, Chief Economic Advisor Arvind Subramanian might give another critique of demonetisation and could continue rebuking the Reserve Bank of India’s Monetary Policy Committee (MPC) for not cutting interest rates.

He has been a vocal critic of the MPC’s decision to hold rates, over four consecutive policy meetings. His and the finance ministry’s contention is that with headline retail inflation below three per cent,