...Talking about the challenge in the path of fiscal consolidation, the RBI Governor said there are political economy issues including democratic compulsions and pressures of federalism. Besides, “politicians in democracies have high discount rates,” he added. The RBI chief said 6 per cent growth is not enough to bridge the income gap. “India is a supply constrained economy...India growth story is still credible because the drivers of growth are intact,” ......
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