Most part of the news article is already known, but put in a straightforward manner without any bias....
in these times... its usual for govt/RBI to keeps projections a little higher than expected, just to keep the sentiment... even though we are not going to see a growth of 7%, govt would just keep projections a little higher
as far as the deficit is concerned... our govts, just like financial institutions thought they can keep borrowing beyond their capabilities to repay... and now we have a huge deficit, even without any huge stimulus packages
RBI has reduced interest rates a lot of times, but banks are not ready to pass it fully to customers... they are not confident of recovery of existing loans
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