Moreover, India has developed a tendency for chronic inflation, owing to an unhappy combination of supply bottlenecks (caused by poor infrastructure) and excessive demand (thanks to persistent public deficits). Budget deficits offered what appeared to be a free lunch, as the resulting inflation eroded the real value of public debt, while the government had privileged access to private savings at near-zero real interest rates.
此外,由于供应瓶颈(由基础设施落后引起的)和过度需求(源自于持续的公共赤字)的不幸结合，印度已然显现出长期通货膨胀的迹向。预算赤字所提供了一顿看似免费午餐的东西，但由此引发的通货膨胀将侵蚀公共债务的实际价值，而政府却拥有特权来以几乎为零的实际利率来获得私人的储蓄。