ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Alternative Remedies WITH the precipitous decline in the country's foreign exchange reserves in the past two or three months, the urgency of measures to hold the line, as it were, have certainly become extremely urgent, particularly because the major factor behind the steep depletion of the country's exchange reserves namely the escalation in the cost of oil imports, does not look like abating. If anything it looks like becoming even stronger in the coming weeks and months, given the increasing compliance with the impact of the UN sanctions. But does it mean that India has no credible option other than resorting to the IMF?

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