Arrest the slide

The shock GDP growth figure for the last quarter of 2011-12, down to 5.3%, demonstrates just how badly chaotic governance and policy paralysis have hit the economy. This drags down growth estimates for 2011-12 as a whole to 6.5% — both figures are the lowest in nine years. With the government unable to fight inflation, or stem slowing exports, flight of capital and a free-falling rupee, it looks increasingly like a rabbit caught in the headlights and unable to get away.

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