India returns to Hindu growth rate talk

India has quickly come to regret Manmohan Singh’s second term as prime minister. The country’s most respected bureaucrat was handed a powerful mandate by his country’s voters two years ago and had a magnificent opportunity to modernise the economy. How distant that dream now seems. Some economists and industrialists fear India’s economy could shrink back towards what was derisively called the “Hindu rate of growth” from initial projections of 9 to 7 per cent this year.

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