The difficulty of being right

The revised GDP growth estimates for 2012-13 should not cause any surprise. They may yet be revised up or down but the message is clear. The economy is not out of trouble. It was obvious at the time of the last Budget and I, among many others, more or less said that the economy was going downhill. P Chidambaram must now regret that he had to give up the finance minister job after 26/11 to take up the ministry of home affairs.

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