Finance Minister Pranab Mukherjee might have to fall back on divestment and other non-tax revenue sources while presenting the Budget for 2009-10 on July 6, economists believe.
All six members of the Reserve Bank of India's (RBI's) monetary policy committee (MPC) expressed caution over food inflation during the December review, while two external members warned about high real interest rates as headline inflation approaches its target of 4 per cent. The central bank continued to maintain the status quo on both the repo rate and the stance in the December monetary policy. India's retail inflation in November rose to 5.5 per cent - its fastest pace in three months - due to higher food prices.
UP is an important state to roll out the government's agrarian reforms and job growth policies.
Critics argue that much more could have been done and that the government was slow to react to many events.
Although demonetisation and improper implementation of GST along with falling prices are being blamed for much of the distress in rural India for some time, experts believe those may not be the only reason.
Angus Deaton's Nobel Prize should spark off more research on the measurement and usefulness of poverty percentages.
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