Macroeconomic context and Budget

A bit like a broken gramophone record (if anybody remembers those shiny black 78s, 45s and 33s which enriched our youth), I have been bemoaning the grievous deterioration in India’s macroeconomic performance, and its underlying causes, in various articles sprinkled liberally in this journal over the past two years (see, for example, columns of August 11, 2011, November 15, 2011, January 12, 2012, April 12, 2012, May 21, 2012, August 27, 2012, and September 13, 2012).

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