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Monetary Policy offers no miracle growth pills

IMF say monitoring the situation in India; bats for RBI's independence

A 25 basis point cut in the repo rate by the Monetary Policy Committee will not quite fan the smoldering embers of India’s growth into a blaze. But the decision to change the policy stance from neutral to accommodative will help, when the new government’s policy interventions produce a new growth impulse. Only 42% of the 50 basis …