How we got here, what to do

In a recent article on this page (December 3), finance minister P Chidambaram enumerated the achievements of his government as well as his own. No doubt, he deserves much credit for facing head on many challenges he inherited from his predecessor. Rapid growth and concomitant rise in revenues have led to a build up of huge appetite for spending in most ministries in recent years. The recent sharp decline in growth, which arrested growth in revenues, did not curb this appetite.

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