India seen making sixth interest rate cut, but no cure for economy's ills

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India seen making sixth interest rate cut, but no cure for economy's illsFive interest rate cuts since the start of the year hasn't stopped India's economy from slowing to its weakest growth rate since 2013, but the Reserve Bank of India (RBI) is expected to make its sixth cut on Thursday to give what little relief it can. The gross domestic product numbers released on Friday showed government spending helping to prop up weak demand, but private investment growth had virtually collapsed, with a crisis in the shadow banking sector causing illiquidity in the economy. Re-elected for a second five-year term in May, Prime Minster Narendra Modi's government needs all the help it can get turning the wheel on an economy, whose loss of momentum is becoming acute.


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