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The mirage of economic recovery

The prospects for the middle class in India are dwindling

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Illustration: Binay Sinha

Aakar Patel
A word that has been used for several years now is recovery. It is accompanied by the idea that what India is facing economically is a blip, which it will get out of soon. A few facts might help us understand if this is so.

In 2018, India entered the period of what was meant to be its demographic dividend. Two decades or so when more people in the population are of working age than are not. But there are 40 million fewer Indians working today than there were in 2013, though 250 million more people came of working age. The
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