Govt is likely to find it hard to meet deficit target next year.
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
Instead of ramming through change, Mr Parrikar has tied his own hands by placing reform at the mercy of numerous committees, says Ajai Shukla.
With the PMO itself spearheading a re-evaluation, the Director General of Defence Accounts has been asked to justify its earlier contention that the 'slab based' system would benefit a larger number of disabled veterans -- something the army flatly denies, reports Ajai Shukla.
There are many collateral advantages of taking the tough decision.
The 7th CPC places the Indian Police Service (and, almost in passing, the Indian Forest Service) on a level with the Indian Administrative Service, leaving the military out in the cold.
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