US problem of debt has only been postponed and the solution arrived at will have its own adverse impact for the future unless the US Government comes out with some innovative new economic policies to give a boost to its economic growth and enhance the confidence in international markets. Deficit and debt burden caused due to the banking crisis continue to haunt the US economy and the crisis management has only aggrevated the problem indicating the urgency to have a relook on the policies so far pursued and bring in a totally new approach keeping in view of the changes witnessed in international economic scenario particularly in emerging economies like China and India.
It is again an opportunity for India to take advantage of the position and go in for massive economic and financial reforms but unfortunately the present Government has been in a paralysed condition as rightly pointed out in your editorial and is unable to concentrate on economic issues faced by the nation.
from: T.V.Gopalakrishnan
Appeared on Hindu Business Line e-paper on: Aug 3, 2011 at 04:47 IST
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