Blame self-goals, not global crisis

The Annual Report of the Reserve Bank of India makes a fair assessment of the prevailing economic environment in India. The slowing economy and raging inflation are indeed the major concerns. In voicing its concern about limited fiscal and monetary policy space, the risk of twin deficits on macroeconomic, financial and exchange rate stability, the need to switch expenditures to cut down the revenue deficit and enhance capital expenditures to strengthen infrastructure, RBI has refocused imperative policy initiatives which most observers have been urging the government to undertake for quite some time.

Read Full Story>>