The pace weakened sharply over the past couple of years as slow reforms, a restrictive monetary policy and uncertain global conditions weighed on the economy.

WSJ: India March Infrastructure Output Expands

Slow progress in reforms to address industrial bottlenecks, a restrictive monetary policy and faltering demand from advanced nations have slowed India's economic growth to its lowest in a decade.

WSJ: India Advisers: Economy to Grow 6.4% This Year

Rather than being seen as a sign of desperation, this should be viewed instead as a mid-course correction to offset the impact of the restrictive monetary policy that the country has implemented over the past two years.

FORBES: China Reaches Into Its Monetary Tool Kit