The cost of Misgovernace

The gap may appear small. But for a poor country, it could be lethal. India's trend-line annual GDP growth rate has fallen from just under 9% in fiscal 2010 to 6.9% in fiscal 2012. If the deceleration is restricted to a year, or at most two, the economic damage can be contained. If, however, the slump to sub-7% GDP growth extends for a period of time, the consequences for the country's economy will be grim.

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