Killing investment interest

In the past few weeks, there have been some noteworthy developments. The Finance Minister and the Chairman of the Council of Economic Advisers to the Prime Minister have both independently, and vigorously, protested that IMF’s downgrade of India’s growth forecast is inaccurate. India will grow much faster than the IMF predicts, they argue. In fact, the IMF has been generous with India’s growth forecast of 3.75 per cent. World Bank data, computed on a purchasing power parity basis, shows that actual growth for the year ending 2012 was 3.2 per cent.

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