Politics in command: Interim budget casts a shadow on economic recovery

Finance minister P Chidambaram's second and last budget with UPA-II was incoherent, characterising this government's economic management. For the third consecutive year economic growth will be below the decade's average of 7.6% and the blame cannot all be laid at the door of a global slowdown. On the face of it, Chidambaram has outperformed expectations by restricting fiscal deficit to 4.6% of GDP.

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