ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Need for Flexibility in Financial Sector Reform

Successive governments have failed to adopt a macroeconomic perspective that allows for flexibility in the application of reform measures, a failure which is proving to be a hurdle in achieving healthy and inclusive growth path. In the financial sector, as in the case of fiscal and revenue deficit reduction, be it in universal banking or the earlier practice of differential interest rates in working capital and term loans or provision of institutional credit, the absence of such a flexibility has had many negative consequences.

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