Economy in free fall: Govt is killing growth, not Greece

Don’t blame Greece anymore. We did this all on our own. Thanks to a mixture of policy paralysis, political and economic mismanagement, and the inability of Pranab Mukherjee to manage credible budget numbers, the economy is into a free fall. The government’s estimates of gross domestic product (GDP) in the last quarter (Q4) of 2011-12, released on Thursday, came in at a shockingly low 5.3 percent, even while the figure for the whole year was reported at 6.5 percent (See full data here).

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