Reserve Bank of India has been in a fix for quite some time now. Big question before the bank is—How to encourage growth without reducing interest rates. Inflation, a technical word used for hike in prices of commodities remains a challenge totally uncared of by the government. Fiscal packages going to ‘cooperating states’ affect the whole budgeting process. Economists have now begun to debate—whether the formality of annual budget is at all necessary. Outgoing Chief Economic Advisor K Basu while praising the RBI efforts, doesn’t hide the fact that corruption is the biggest impediment in track of the country’s growth..........
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