MUMBAI, Jan. 10 -- Reserve Bank of India governor Shaktikanta Das on Tuesday, 7 January, said persistently high inflation hurts an economy's allocative efficiency and impedes growth, dampening hopes of any immediate interest rate cut.
In his opening remarks at the Suresh Tendulkar Memorial lecture on the "Journey towards inclusive growth in India", Das pointed to the need for structural reforms, especially in agriculture marketing.
The central bank governor's comment comes in the wake of hardening domestic inflation and rising crude oil price, and ahead of the February meeting of RBI's monetary policy committee (MPC).
In a surprise move, MPC left the rates unchanged in its December policy, awaiting a full pass-through of previous rate cu...