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India's strong GDP figures mask economic reality

Search is on for reliable indicators of underlying activity, vital for Finance Minister Arun Jaitley as he draws up his annual budget

Reuters  |  New Delhi 

For business, the government and the Reserve Bank of India, data revisions that have transformed India's $2.1 trillion economy into one of the world's fastest growing are too good to be true. Now, the search is on for reliable indicators of underlying activity, vital for Finance Minister Arun Jaitley as he draws up his annual budget and for RBI Governor Raghuram Rajan as he weighs whether to cut interest rates again. "Let's not get carried away - the ground reality is very different," one senior finance ministry official told Reuters after figures on Monday ...

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