'Excessively restrictive' MPC may be sacrificing India's growth potential, says dissenting member Jayant Varma

RBI's Monetary Policy Committee member Prof. Jayant Varma voiced concern at the August meeting over the restrictive monetary policy's negative impact on India's economic growth. Despite his vote for a repo rate cut, the committee kept the policy rate at 6.50%. Varma believes this stance overlooks the economy's true growth potential.