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A crisis of confidence

Less than a decade ago, enthusiastic investment bankers and financial research analysts were tom-tomming the India growth story. India, they said, had so much potential, it could be one of the world’s biggest economies in the next couple of decades. For this, they used spreadsheet models, in which they plugged in a growth rate of 8-10% and projected it for the next 30 years. They learnt this in MBA school.

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