Indian economy is at the bottom of the cycle now and therefore having all the usual symptoms of low growth and job creation, high inflation and interest rates, high twin deficits says analyst Sachin Karpe. Building confidence is essential for encouraging private participation and sustaining growth momentum. The job of revival of growth is particularly difficult while at the same time we try to reduce the macroeconomic risks that have accumulated already. Inflation remain high because pressure points in inflation has emerged at regular intervals whether its base effect, flare of international commodity prices, monsoon unevenness or even structural shift food basket due to rising income particularly rural regeneration.
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