...While Basu does acknowledge that other fiscal and monetary measures must also be used, he has to know that fiscal measures from the Indian government cannot be depended on. At most, the government is likely to cut down capital spending (spending on creating viable economic assets) while keeping up revenue spending (spending on salaries and interest payments). That certainly won’t help. Trust the government to always throw the onus of growth on the RBI, while trying to escape from its own responsibility.....
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