New Delhi, June 11 -- The last week saw some important developments which augur well for the economy. First, the government formed two new cabinet committees to check the declining trend in growth, generate employment, spur demand and push consumption. These are the major macroeconomic challenges facing the economy currently and the urgency the new government has shown to address them deserves praise.
Second, the Commerce Minister held a meeting on issues related to export credit with representatives of export organisations. The minister admitted that in the last few years the share of export credit has come down. More importantly, the minister revealed that he had asked the RBI to look into the possibility of providing $25 billion line of...