India's top priority is to revive stalled projects

AS India moves into election mode, high inflation, a weak currency and a perception of policy paralysis have affected investment sentiment. As a result, the 2012-2013 growth, revised to 4.5 per cent from 5 per cent last week, was at a decade's low. In the current fiscal year, which ends on March 31, growth is expected to be around 4.8 per cent. The government is using various fiscal policy instruments to tame inflation and kick-start stalled investment projects. Last week, the Reserve Bank of India...

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