........Market-friendly policies are politically acceptable while economy-friendly policies are politically difficult to digest. The question is does the FM have the political backing to take economy-friendly policies? A diesel price hike will not only help bring down the fiscal deficit but will also give the RBI headroom to use monetary policy to ease falling growth pressures. However, given the rising inflation expectations due to weak monsoons, there will be a huge political hue and cry over diesel price hikes..........
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