For once economics and politics have converged. A weak economy creates social strife and the authorities use such discord to paper over sinking living standards.
But their brinkmanship collapses and the slips begin to show. Uddalok Bhattacharya sums up
A fragile economy cannot afford the kind of social strife we are seeing in India now, says Mahesh Vyas. The labour participation rate in November shows the Indian economy is likely to slow further in the third quarter.
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