Chief Economic Advisor Kaushik Basu has pitched for a reduction in interest rates to maintain growth. In an interview to a private news channel, Mr Basu said the RBI's tight monetary policy has had limited impact and the time has come to try something different. His comments came within days of the Reserve Bank of India (RBI) raising key interest rates by 25 basis points, the 12th increase in the last 18 months, to contain inflation.Mr Basu said the Reserve Bank needs to think out-of-the-box and come out with steps to tackle high inflation.