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1. India has suffered from persistent high inflation. Increase III administered prices, demand and supply imbalances, imported inflation aggravated by rupee depreciation, and speculation - have combined to keep high inflation going. If there is an element common to all of them, it is that many of them are the outcomes of economic reforms. India's vulnerability to the effects of changes in international prices has increased with trade liberalisation. The effort to reduce subsidies has resulted in a continuous increase in the prices of commodities that are administered. What is the most logical, rational and crucial message that is implied in the above passage?





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