Saturday, March 9, 2013

Government gets warning on populist programmes

...........RBI Governor Duvvuri Subbarao said today that "we must recognize that the government does not have the fiscal capacity to continue entitlements and welfare programmes at this level." Subbarao was speaking at meeting of the bankers in New Delhi on Friday. Subbarao's warning should be seen in the background of increasing subsidy bill that is telling on the budget deficit..........

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