INSUBCONTINENT EXCLUSIVE:
MUMBAI: The Reserve Bank of India Governor Shaktikanta Das and his deputy Viral Acharya viewed the data on economic growth and inflation
with different prisms that led to a split in their voting on interest rates in the last monetary policy review meeting, raising the
deficit and inflation if the new government ends up being populist.
While Governor Das felt the need to accelerate economic growth which has
begun to stutter, Acharya believes that growth is accelerating with a strong contribution from the services sector, minutes of the Monetary
last meet on April 4, cut interest rates by a quarter point to 6 by a 4-2 voting
Independent member Chetan Ghate and Acharya voted to keep rates unchanged citing doubts over the sustainability of low inflation and
categorically ruled out rate cuts
outlook is looking benign and headline inflation is expected to remain below target in the current year, said Das.
But Acharya viewed the
state of prices differently
old, the unanimity of the past seems to be giving way to differing opinions even within the RBI, putting to rest speculation that insiders
