“It’s absolutely critical that the monetary stimulus is withdrawn in an orderly way to curb inflation without upsetting economic growth” in India, said D. H. Pai Panandiker, president of RPG Foundation, an economic policy group in New Delhi. “Inflation is like a tax on the poor.”
Source:
India Sets Stage for Rate Increase as Focus Shifts to Inflation
By Cherian Thomas
28 Oct. 2009 (Bloomberg)
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