Urgent need to act on fiscal front to stabilize economy: former RBI governor

At a time when the markets and investors continue to await action from the government on various fronts including on fuel prices, former RBI governor, Dr. Bimal Jalan feels there is an urgent need for the government to act, particularly on the fiscal front. He feels that politics and political compulsions are continuing to come in the way of economic progress and calls for political reforms to ensure smoother functioning of the economy.