..........Why, then, did Chidambaram make his displeasure public? Viewed from the minister’s perspective, time is clearly running out for the UPA government. With very few days left before the 2014 Union Budget (which will bring its own set of compulsions for the FM) and the elections in Gujarat and Himachal Pradesh before that, the FM is, perhaps, keen to step on the accelerator in terms of whatever arsenal he has at his disposal to try and get the economy back on track and send out the right signals. Besides, by outlining his fiscal consolidation plan a day before the RBI policy, Chidambaram seemed keen to send out the message that the government was now doing its bit in spurring growth and was hoping RBI would chip in with a rate cut to complete the picture. But Subbarao’s reading was clearly different.......
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