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Clearly disappointed at the Reserve Bank of India’s not cutting lending rates, two key aides of Prime Minister Manmohan Singh said the Government intends to face the challenge of reviving growth on its own, without the assistance of the monetary policy regulator.
Finance Minister P. Chidambaram said: “Growth is as much a challenge as inflation. If the Government has to walk alone to face the challenge of growth then we will walk alone.” Echoing the sentiment, Deputy Chairman of Planning Commission Montek Singh Ahluwalia remarked: “Monetary policy is a very important aspect of the growth push but most of what needs to be done for growth has to be done by the government, and we will do it.
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