Yes, Prime Minister

Many of the economic problems faced by the country find their origin in the profligate ways of the government, which continues to live well beyond its means and has a seemingly insatiable appetite for borrowings. The size of the fiscal deficit is negating valuable policy efforts of the government in the infrastructural sector and those of the Reserve Bank of India on the monetary side. It has eroded stability in the money markets. The RBI has been forced time and again to place increasing amounts of government paper in the market. Interest rates have had to match investors expectations, which reflect the likelihood of continued excessive government borrowing. There is a limit to the absorptive capacity of the market and interest rates