There is a case for the Reserve Bank of India (RBI) to cut interest rates, and the central bank should take comfort from the government's efforts to cut the fiscal deficit, Finance Minister P Chidambaram told a private TV channel on Monday.
According to a Reuters poll, the Reserve Bank is expected to cut policy rates on Tuesday, after the weakest economic growth in a decade, slowing inflation and a commitment by the government to contain its fiscal deficit.
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