Why RBI cannot cut Rate Aggressively

Taken from the Speech of RBI Governor Dr. Raghuram Rajan A lesson from Brazil? Perhaps Brazil offers a salutary lesson. Only a few years ago, the world was applauding the country’s thriving democracy, its robust economic growth, and the enormous strides it was making in reducing inequality. It grew at 7.6 percent in 2010, and had discovered huge oil reserves which the then President Lula

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