Growth as driver of capital inflows

Finance minister P Chidambaram's made a statement in Parliament outlining measures to curb the current account deficit (CAD) and enhance capital inflows to finance the CAD. Except for the move to curb imports of so-called non-essential items, which smacks of tokenism, the rest all make sense. Yet, there are more important measures out there that the finance minister chose not to talk about but are hopefully on the anvil. One is concerted administrative action to let large infrastructure projects take off.

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