The Second Quarter Monetary Policy Review is due end of this month. We are currently in a scenario of the higher Current Account Deficit at 4.9% of the GDP than both the previous quarters, as well as Q1 2012- 13. India would do well to use the breathing space that has been provided by the US deferment of tapering, to fix its Current Account Deficit ( CAD) and resuscitate growth. While it is the Current Account deficit and deficit in output growth rate which are garnering maximum attention, there is a third deficit - a Rule of Law deficit, equally important due to ......
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