The vital signs

To the long record of government leaders promising jam tomorrow, we must add the prime minister’s forecast on Independence Day that GDP growth this year will be better than last year’s 6.5 per cent. Now, three months later, the finance minister has lowered expectations to the 5.5-6.0 per cent range, but he expects growth next year to be back up to seven per cent. In other words, “jam tomorrow” once again.

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