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

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Current Deficit and Its Malcontents-A Consideration in Balance of Payments Adjustment

Macro-economic adjustment to deal with a balance of payments problem such as India faces today embodies in it an inherent inequity: a large number of those who did not benefit from the original import splurge are now called upon to face privation. It is crucial there fore that distributional concerns are not lost sight of as part of the adjustment process.

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