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February 27, 1999
'Last year's thrust is in reverse gear this year'
I have negative impressions. He has belied expectations. Looking at kickstarting the economy, last year's thrust is in reverse gear this year.
Not reducing interest rates, which is a desperate need. Not addressing the exchange rate of the rupee, and, of course, increasing tax rates. This is no crisis, but is sending the wrong signals.
If you look at the cash EPS of a company, it has come down. The international competitiveness, there is no improvement, we continue as a high cost economy.
Vikram Thapar, managing director, JCT
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