The
Budget is built on the assumption of a nominal GDP growth rate of 13.4%
with an underlying inflation of 6.5%. Is it the new normal for
inflation against 5%, held as the “tolerable” rate for more than two
decades? Would RBI adopt this as its assumption for monetary policy in
2013-14? If it has a different take on the subject, would it not result
in a disconnect in the coordination of fiscal and monetary policies?
- A SESHAN (ET)
- A SESHAN (ET)
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