Neither America nor Anna

The slow momentum of the US recovery and the instability in the global markets have now added to the worries about the prospects of the Indian economy. With the threat of a double-dip looming larger, even as India’s quarterly growth rates continue to slip in response to the efforts to nip inflation by raising interest rates, the GDP growth estimates have already been lowered closer to 8%. The new worry is that a global slowdown will not only hit exports but also foreign investments—which are important props that boost overall growth—and further delay any recovery.

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