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Beat the gloom

Economist Joseph Stiglitz has dismissed "excessive pessimism" about the Indian economy. In a crisis-hit world, he thinks India's projected 7% GDP growth should be applauded, not compared to the pre-2008 9%-plus. Looked at this way, chief economic adviser Kaushik Basu's growth forecast for the current fiscal at 7-7.5% - seconding the prime minister's 7% - seems robust.

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