............ But the possibility of a depreciating rupee pushing up prices and, therefore, inflation rates, is tying up the RBI chief’s hands. If he cuts rates to push growth, he risks stoking inflation. If he keeps rates intact, he risks perpetuating the slowdown. It is in this backdrop that finance minister P Chidambaram announced on Thursday that the government would come out with a slew of reforms measures over the next couple of months. Hopefully, his steps to get stalled projects off the ground will also begin to show results soon. Then, he has urged all departments of the government to start spending their budgetary allocations............
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