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

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Budget Likely to Keep Interest Rates High

EPW Research Foundation foremost among the many policy changes introduced by the union budget for 1997-98 is the replacement of the system of ad hoc treasury bills by ways and means advances. Given the economy's fiscal imperatives, this change is likely to push up the average interest cost for the government and also prevent any fall in the already high interest rates for commercial borrowers.

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