The growing credibility gap

There has been a welcome sense of urgency in the finance ministry since P. Chidambaram once again took charge of national finances on the last day of July. He has a lot on his hands—from undoing some of the more bizarre decisions taken by his predecessor, trying to get corporate investments back on track, pushing ahead with economic reforms and charming the financial markets so that enough foreign capital flows in to finance the massive current account deficit.

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