Unravelling India: the price of paralysis

Half-way into Manmohan Singh’s second term as prime minister, the so-called India Shining story is unravelling. Having weathered the 2008 financial crisis better than almost anyone predicted, projections that the country would soon be growing faster than China, at 10 per cent or more a year, had become the norm. That confidence has come hurtling back to reality with a thump.

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