No quick fixes for high growth

The recent dip in the gross domestic product growth to five per cent has created a stir. The myth of the high growth trajectory is being challenged. It has even resulted in policy makers questioning the statistical basis for estimating this growth, and making assurances that the economy will immediately rebound to the growth turnpike. This announcement is without any basis since mathematical modelling and forecasting tools have long been abandoned by the Government of India.

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