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A tamed inflation, declining fiscal deficit, and GDP growing at 7.4 per cent. Not bad for one year
Should we assess the year gone by on the basis of the 52-page election manifesto, or should we be more pragmatic and look at the ground situation?
On the economic front, and going by a few significant parameters, it has been an impressive year. Inflation which threatened to go out of bounds, has been tamed, fiscal deficit is on the decline, the world’s largest financial inclusivity programme is under way and GDP growth rate is at a healthy 7.4 per cent. Luck sided with the government, as we saw global oil prices plummeting and impacting our oil import bill favourably. Given these healthy macroeconomic parameters, it would be worthwhile to look at some of the big-ticket items the government promised.