The Indian Industrial Production figure for last month seems to have slumped to 0.1 percent from 4.6 percent the previous month. If any of the mature economies had the same demographics and dynamics of growth, they would consider themselves lucky and utilise some of the stimulus tools at their disposal.
Witht the Reserve Bank's repo rate at an unsustainable high of 8 percent, a bold cut now seems the best available tool. Anything between 125 and 150 basis points would be the prescription. Who knows if they will actually muster courage to apply this? Let's wait until 18th June.