“Fulfillment of targets in key infra areas will act as a stimulus. While the gross savings rate in FY13 was 30.5%, the investment rate was 35%. With investment rates being high, clearing bottlenecks will unleash growth,” Rangarajan explained. He further pointed out that domestic liquidity management can be done via open market operations (OMO) and not just CRR. “Sometimes calibrated OMOs are better for managing liquidity,” he pointed out.