Finance Minister Pranab Mukherjee’s budget projections for GDP growth, inflation and fiscal tightening are overoptimistic and unlikely to be met. However the drive to achieve those targets will probably produce some meaningful tax, subsidy and FDI reforms. After languishing in a scandal-induced policy paralysis for much of H2/2010, the government is showing signs of life again, and the pace of policymaking will accelerate in 2011....
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