The RBI surprised the markets by adopting a hawkish stance on inflation, and hiked key rates by 50 bps. Governor D Subbarao hinted that the central bank, in the absence of tough policy actions from the government, is forced to take the unpopular decision. Clearly, the government has failed to perform its duties as far as controlling inflation is concerned. If you are the Finance Minister of the country, what will you do to rein in inflation?
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