War on inflation hurts India growth story

The UPA government and the Reserve Bank of India (RBI), which successfully steered the economy through the world's worst economic crisis in eight decades now face a harsh dilemma: prices are not under control but the war against inflation is hurting growth. India's economy grew at 8.5% in 2010-11, higher than last year's 8% growth, data released on Tuesday said, but in the January-March quarter GDP grew by only 7.5%, the slowest in five years.

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