What was a direct result of his government not passing the budget?
Stock market crash
Population decline
Further credit downgrades
Increased inflation
Answer
The government's failure to pass the budget directly led to further credit downgrades. Credit agencies viewed this as a sign of fiscal irresponsibility and a lack of confidence in the government's ability to manage its finances. As a result, the cost of borrowing for the government increased, making it more difficult to finance its operations and invest in public services.
Chandra Shekhar: Behind the Legacy - Test Your Knowledge about India's 8th Prime Minister
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