Few hopes from Chidambaram

P Chidambaram will begin his third innings as finance minister at a time when economic growth is weakening while inflation continues to be persistently high. The Reserve Bank of India (RBI) on Tuesday reduced its growth estimate for the current fiscal year by 80 basis points (0.8%) and raised its inflation forecast by 50 basis points. Earlier, the International Monetary Fund slashed its growth estimate for India in calendar years 2012 and 2013.

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