India must act with resolve at critical juncture – opinion
India is faced with a widening deficit, slowing growth, foreign capital outflows and a weakening currency. The RBI must act decisively and immediately or risk hurting the economy.
The problems started when US Federal Reserve chairman ‘Helicopter Ben’ – so called because of his support for economist Milton Friedman’s theory on fighting deflation by dropping money from a helicopter – suggested that the era of easy money would be coming to an end.
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