 "Sanjay Malhotra, M Rajeshwar Rao, Swaminathan Janakiraman, T Rabi Sankar")
After the pro-consumption pivot the government made in its Budget, the Reserve Bank of India (RBI), too, has come to the party. Indeed, after two years of keeping rates on hold at 6.5 per cent, the Monetary Policy Committee in the first meeting under Governor Sanjay Malhotra did not disappoint and delivered a monetary stimulus in the form of a 25 basis point rate cut, supplementing the liquidity injections it had undertaken two weeks ago. The decision to cut rates and to keep the stance neutral was unanimous as well.
After a period of tackling contradicting objectives, the
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