Using food inflation, which restricted the RBI from any rate action for two years in the rate setting, was a "flawed theory," the chartered accountant-turned-politician said at an event hosted by CNBC TV18.
"I certainly believe they should cut interest rates; growth needs a further impetus. We are the fastest-growing economy in the world; we can do even better," Goyal said.
Speaking at the same event later, RBI Governor Shaktikanta Das declined to comment on the senior minister's suggestion, saying that the six-member rate-setting panel will take the appropriate call at its next meeting scheduled in December's first week.
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