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India mulls interest rate cut amid high inflation

17 September 2012 Last updated at 05:30 BST

India has unveiled a range of economic reforms, including opening up its retail sector to foreign supermarket chains and partly privatising four state-run companies.

The moves comes as growth in Asia's third-largest economy has slowed.

The announcements have added pressure on India's central bank to cut interest rates when it meets later on Monday.

Butas Sameer Hashmi reports from Mumbai, high inflation rate may prompt the central bank to keep borrowing costs on hold.