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Resource centre on India's rural distress
 
 

Economic slump: India's rickety bridge over troubled waters -Dev Kar

-TheWire.in

Sustaining growth amidst a global economic slowdown would require tackling corruption.

Raghuram Rajan, the-then outgoing Governor of the Reserve Bank of India, in an exit interview he granted to Karan Thapar (‘To The Point’, YouTube, September 2, 2016), took satisfaction from the fact that India was “on a more sustainable growth path”.

The remark turned out to be premature. Less than two years later, starting the first quarter of FY 18/19, ominous signs of weaknesses started to emerge. GDP growth, which has been sliding continuously over six quarters, reached 4.5% per annum in the second quarter of FY 19/20. The slide may not be over yet.

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