The government’s fiscal profligacy has made a mockery of the FRBM Act. Pranab Mukherjee sounded pleased earlier this week when he told a TV interviewer that India’s projected fiscal deficit of 6.8 per cent of GDP in 2009-10 was still better than the 11 per cent projected in the United States.
Apologising is never easy. Barack Obama knows this now. He made a non-apology apology last week to a Massachusetts police sergeant two…
“Curiouser and curiouser” sums up India’s economy. There is little or no credit, tepid business and consumer confidence, exports are struggling, and yet gross domestic product (GDP) grew by a healthy 7.7 percent in the January-March quarter, and is seen rising by 7.4 percent in fiscal 2018-19.
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