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How India's economy came back down to earth in just a year's time

India may yet reclaim its mantle as the next big thing, albeit a toned-down and more durable version

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4 min read Last Updated : Dec 29 2019 | 8:31 AM IST

India's economy lost its sheen this year. As it stumbles through a deep slowdown and a credit crisis, the country has gone from being hailed as a colossus-in-waiting to placing among the also-rans.

Rarely has a major economy had such a humbling turn in fortunes. In the third quarter, gross domestic product rose 4.5 per cent from a year earlier, about half the pace notched in the first part of 2018. Consumer confidence has tumbled to the lowest level since 2014. The labor market, a vital indicator in a country with a population of 1.4 billion, is fragile: The jobless rate

Topics : IL&FS Crisis Indian Economy GDP growth Economic slowdown

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