Uncomfortable truth about CAD

They say fortune favours the brave. For all the criticism that policymakers has copped over the last few years, one has to admit they’ve been brave over the last six months. Who would have thought diesel prices would have been hiked by seven rupees and still rising in a pre-election year? Who would have thought the government would have had the gumption to slash spending to reduce the fiscal deficit to almost 5%? Who would have thought it would risk its political survival over of FDI in multi-brand retail?

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