The finance ministry and the Reserve Bank of India (RBI) have been grappling with a host of problems created by the virus that China exported. Often, the solutions to these have pulled in opposite directions. Next year’s Budget will reflect all these difficulties in full. So it is time to step back and make it with a framework in mind.
A major problem next year is global monetary irresponsibility, manifesting itself in a huge increase in the supply of dollars, euros, yens and yuans. The suppliers of these currencies account for 75 per cent of global output. This irresponsibility
A major problem next year is global monetary irresponsibility, manifesting itself in a huge increase in the supply of dollars, euros, yens and yuans. The suppliers of these currencies account for 75 per cent of global output. This irresponsibility
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