Former prime minister Rajiv Gandhi had said that well-meaning programmes meant for the poor did not reach them: the same is true of the NREGA, says Surjit Bhalla.
Repo rates determine deposit, and hence, lending rates. If the RBI wants banks to start lending in earnest, it needs to lower these to realistic levels, says Surjit Bhalla.
All central bankers look at the trend in inflation, and real output before making their decisions
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