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    <title>Rate cuts by RBI not magic bullet to propel investments: Raghuram Rajan</title>
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    <description>Repo rate reductions alone will not necessarily drive corporate investment; investment depends on a mix of monetary easing, structural reforms and competitive market dynamics. While recent policy actions include consecutive rate cuts, a neutral stance and liquidity support, interest rates are not presently excessive and the effects of cuts will take time. Attention to core inflation alongside headline measures is necessary before further easing, and attracting sustainable foreign investment requires logistics, competitive labour costs and reduced corporate complacency through greater transparency and competition.</description>
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