in data. Revival may take some more time. Quality of fiscal adjustment remains a concern, even as fiscal risks have reduced in 2012-13,” the RBI said.
Going forward, risks remain from suppressed inflation, pressure on food prices and high inflation expectations getting entrenched into the wage price spiral. “Wage inflation remains a source of concern. Rural wage inflation declined marginally but remained high at 18 per cent. In organised manufacturing, increases in staff costs remained in double digits,” it said.