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Budget: Setback for the chemicals industry


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Jaideep trivedi
When UPA took over, the economy was growing at a healthy 8-9%..
by Jaideep trivedi on Mar 01, 2013 12:27 PM


SONIA GOT THE IDEA TO PLAY ROBIN HOOD AND GIVE MONEY TO THE POOR
AS SHE WANTED "INCLUSIVE GROWTH"

Money was doled out to the poor in schemes like NREGA , Direct cash transfers and Farm loan waivers
this led to them spending that money on food etc which led to high inflation .

RBI Saw high inflation as a risk and started inreasing interst rates .

The Interest rates were increased so fast and so high that it destroyed the growth in the econmomy .

So now we are left with low growth and high inflation and a

huge rural population NOT willing TO WORK AND LOOKING FOR FREEBEES FROM THE SYSTEM

Last qarter the economy has just grown by 4.5 %


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