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From the World Bank and the International Monetary Fund to the government and sundry economists, economic recovery in India is pegged between 8.3 and 10.5 per cent. The reality is that against the 7.3 per cent drop in GDP last year these numbers work out to an average annual growth of 1 per cent – which compare marginally unfavourably with global GDP performance over the past two years. So is this new optimism justified? T N Ninan weighs the evidence here.
In other views today:
