............Now if the RBI were to let the borrowing happen and accommodate it by having more liquidity in the economy, what you’d get back is inflation and that harms ordinary people. The high interest rate affects investments and through that, of course, employment, and that again affects the people. So you’re between the devil and the deep blue sea. What you really need is for the government to rein in its expenditures and achieve the same social outcomes with reduced expenditures..............
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