No doubt the solution offered is bitter but unavoidable to contain the high level of inflation,but the question as to whether this hawkish measure of RBI will contain inflation still remains unanswered.Growth will come down with such measures is a reality but containing inflation requires more measures other than monetary is a fact which is being ignored for long.This sort of hide and seek game keeping the problem of inflation at high level only shows lack of real concern for the masses who suffer from poverty and unemployment /underemployment.
This appeared in ET's blog dated 2nd August 2011.
Dr.T.V.Gopalakrishnan
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