A realignment

RBI gives primacy to growth concerns

In his maiden monetary policy review briefing, Reserve Bank of India Governor Shaktikanta Das outlined the Monetary Policy Committee’s (MPC) decisions that would please almost everyone — from the average home loan borrower to the government. The MPC decided, by a majority decision of 4-2, to cut the repo rate by 25 basis points. What is equally important is that this cut was preceded by a change in the RBI’s policy stance from “calibrated tightening” to “neutral”. In other words, there is an opening for another rate cut by April 4, which could be crucial, given the timing of the