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Unformatted text preview: The problem does not end here. The toughest problem for the RBI is to get the interest rate down
to allow the government complete its borrowing programme, which is huge to begin with, and
is likely to grow larger, given the dismal performance of the disinvestment program.
Disinvestment, which was seen as a major source of revenue, was taken as a safety valve from a
potential ‘internal debt’ trap. Governments initial thought was by disinvesting the public sector
will give instant cash to the gover...
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