The Indian economy will contract by 6.1 percent in the April-June quarter and is likely to expand only in the December quarter, a Japanese brokerage said on Monday, expecting another 0.75 percent cut in rates by the RBI to push growth in 2020. The conventional approach to rate-setting which involves a sharp focus on inflation will take a backseat and growth concerns will be accommodated, Nomura said in a report after the monetary policy committee (MPC) minutes were made public.
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