 "Banks, Bad loans, NPAs")
Four years after the current government started ruling India with an iron hand, the current account deficit is up, the currency is weak, the government bond yield is 8.2 per cent (when even a year ago most people were expecting it to head below 6 per cent) and the sharp rise in fuel prices is stifling the economy. Over the weekend, the wise men of the government went into a huddle to find a way out of the mess. But don’t hold your breath about the outcome; they have very few options. The government may be bold and nationalist but
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