High-frequency indicators suggest the Indian economy is likely to maintain strong growth in Q2, according to the Reserve Bank of India’s Monetary Policy Committee (MPC) minutes released on October 15.

RBI Governor Sanjay Malhotra noted that while current growth is strong, the outlook is softer than the central bank’s aspirations. He highlighted that benign headline and core inflation, alongside cumulative fiscal and monetary measures, provide scope to support growth further.

However, Malhotra emphasised that it is not the opportune time to cut policy rates, as such a move may not deliver the desired impact. He preferred to retain the neutral stance, citing evolving policy uncertainties and a rapidly changing macroeconomic environment.

MPC member Ram Singh said the case for another rate

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