About Renu KohliRenu Kohli is a New Delhi-based macroeconomist; she is a former staff member of the International Monetary Fund and Reserve Bank of India.
Is the India growth story over?
By Renu Kohli. Posted July 12, 2012
Unexpectedly weak growth in the first quarter of 2012 was a slosh of icy water in the hot Indian summer. The near-halving of GDP growth to 5.3% in the first quarter of 2012 from a stellar 10.1% in the same period in 2010 has led some analysts to question whether India’s high-growth phase was a blip. However, a close look at the underlying causes of the present downturn suggests that it is cyclical, although with deep underlying distortions that need a fundamental overhaul to put growth back on track. The structural drivers capable of sustaining high growth rates over a long period remain in place.
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