NREGA’s the cure as well as the problem

The move by the Reserve Bank of India (RBI) yet again to raise interest rates comes as no surprise. Inflation pressures have remained strong in India for the two years the UPA-2 has been in power. In the first year, there was the excuse of the drought, though even here the countervailing action—timely release of foodgrain stocks—was neglected. The sum total of policy seemed to be the periodic forecasts by policymakers that within the coming six months inflation would subside.

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