Taking a breather

Whatever can be said about India, remarked a British economist, Joan Robinson, the opposite can also be said. This also appears to apply to the speed at which people think India’s economy can grow. Today’s estimate by India’s Central Statistical Organisation (CSO) appears to confirm that the tiger may be tiring somewhat. According to the CSO, the economy grew by a lower-than expected 7.8% year on year in the first three month of 2011 (GDP grew by an annual 8.5% in the fiscal year 2010-11 (April-March), up from 8.0% in the previous year). 

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