Reality Check for India's Central Bank as Slowdown Deepens
- Governor Patel’s hopes for a ‘V-shaped’ recovery now dashed
- Cuts to fuel levy indicate government is ‘blinking’: analyst
Inside the RBI's Growth and Inflation Dilemma
This article is for subscribers only.
India’s central bank has finally accepted the inevitable -- growth in the $2 trillion economy is slowing more than it expected.
It means recovery from an unprecedented cash ban imposed late last year by Prime Minister Narendra Modi will be a long, drawn out one and not the V-shaped bounce Governor Urjit Patel had hoped for.