RBI cutting rates not a solution to weak economy, says Geosphere Capital’s Arvind Sanger

“The economy is continuing to decelerate and oil prices going down are helpful. However, oil prices went down in 2008 and the Indian market didn’t do well. The oil prices going down because global growth is about to go off the rail is not good news for anybody including oil importing countries like India,” Sanger said.

India is not immune to global forces and global forces of slowing demand are never good for any economy, he said.

“The real hope here and the positive for India would be if we get strong actions by the new government. It’s the same government but with a new mandate and a stronger mandate and it should be able to take some serious action to turnaround dubious economic backdrop that India is experiencing right now,” Sanger added.