The news got worse last week, in many ways. The fiscal deficit is likely to overshoot the target for sure, despite plenty of accounting legerdemain from the finance ministry.
The trade deficit is expanding by leaps and bounds. The political establishment is chasing its own tail (vide CBI versus CBI) as assembly elections draw closer and opinion polls suggest that the Bharatiya Janata Party will be hard put to retain its hold on several states. Meanwhile, corporate results indicate that consumption may be softer than hoped-for and analysts are predicting downgrades for second-half ...
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