ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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NEW DELHI- Nemesis of Economic Liberalisation

NEW DELHI Nemesis of Economic Liberalisation BM THE spate of pre-Budget increases in administered prices announced by the government in New Delhi in quick succession appears to be of more than ordinary significance. The government appears to have at last stoically accepted that economic reality is far more difficult and complex than the facile and fanciful assumptions of economic liberalisation that have so far guided its economic policy and management. It has probably found out the hard way that the problems that have been thrown up and the pressures that have been generated in the economy as policy of liberalisation has gathered momentum do not lend themselves to easy treatment. Ironically, therefore, the government which had been so vociferous about its success in holding inflationary pressures in check during the first year it has been in office has now directly to assume responsibility for fuelling inflation by upward revision of administered prices.

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