India wants RBI rate cut before March to lift growth

New Delhi

IMPATIENT for faster economic growth, India's government is lobbying for a reduction in official interest rates in coming months as it expects inflation to stay close to a 4 per cent target, finance ministry officials said.

At its last meeting in October, the Monetary Policy Committee (MPC) left the repo rate at 6.0 per cent, near a seven-year low, and a Reuters poll found that economists expected the rate to stay there through to the second quarter of next year.