This is with reference to “Fiscal indiscipline curbs RBI's options” (Business Line, April 6). Monetary policy initiatives will make sense only with implicit fiscal policy support. The Prime Minister and Finance Minister must look into three issues that have a bearing on the country's economic development. These are: Corruption and black money including balances held abroad; Forex Reserves Management. Enforcing austerity and prudence in recourse to import should not be seen as ‘controls'; Super-rich should be encouraged to be more participative in productive deployment of their resources and social security arrangements.
- M G Warrier, Thiruvananthapuram (HBL)
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