The Reserve Bank of India will announce its
June quarter policy on Tuesday. RBI has recently taken several measures to curb
volatility in the rupee-dollar rates. More reforms in the coming months are
expected as the Prime Minister met the captains of industry and business. Industry
leaders asked for immediate rate cut and demanded that the government give
priority to reviving investment and industrial growth. However, the PM has
indicated that any reduction in interest rate will be possible only if the
rupee strengthens. The overall sentiment was on the need to bring back the
mood, converting decisions to action and taking the country back to a growth
path of 8% or more.
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