The wrong recipe

For India, things remain sticky on the inflation front while reviving growth looks iffier by the day. CSO estimates suggest the economy this fiscal will expand at the slowest pace in a decade. Lending weight to the forecast is news of industrial production being in the red in December, the second consecutive month of decline, mainly courtesy contraction in manufacturing output. Worse, the government can't stimulate its way out of this downturn like it did post-2008, thanks to the mess its finances are in.

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