Economic Survey-2 flags risks to growth, backs rate cuts - Times of India.

"Optimism about the medium term and gathering anxiety about near-term deflationary impulses simultaneously reign over the economy," said the survey, authored by chief economic adviser Arvind Subramanian.It said farm loan waivers could reduce aggregate demand by as much as 0.7% of GDP, imparting a significant deflationary shock to an economy yet to gain full momentum..

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