With growth this bad, India will need more than rate cuts to help economy

The five reductions Shaktikanta Das's overseen haven't given the economy back its groove.

With India's growth tumbling to 4.5% from 8.1% in little more than a year, you’d be surprised to know that Shaktikanta Das has one of the easiest jobs in central banking. He just has to keep doing what he's been doing since becoming governor of the Reserve Bank of India last December: cut interest rates. Fortunately, political will is on his side.

That’s an enviable state of affairs for a central banker these days. Just look at Federal Reserve Chairman Jerome Powell, who has become a constant target of President Donald Trump’s Twitter tirades. It’s also face-saving for