RBI has done its bit: Fiscal and trade policy moves must do the rest
It may just be a coincidence that the Reserve Bank of India (RBI) announced the rate-cut decision of its Monetary Policy Committee (MPC) on 9 April, the day that the US imposed ‘reciprocal tariffs’: i.e., additional ad-valorem import duties at higher-than-baseline rates aimed at a group of targeted countries, including India. Yet, this global backdrop…