Letters: Rate cuts won't help

Apropos “Monetary policy isn’t a popularity contest” (June 13), rate cuts alone are not a remedy for slowing growth. Growth is a function of an effective and a proactive policy mix — monetary as well as fiscal. It is erroneous to hold high interest rates responsible for the slowing growth rate. In the absence of investments and productivity-led fiscal initiatives by the Centre, monetary manoeuvres of the Reserve Bank of India (RBI) will remain ineffective. We need to boost investor sentiments and focus on productivity growth.

Venkatesh N Hubli

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