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India slides down the economic growth league table

LiveMint logoLiveMint 04-06-2014 Livemint

If you want to see the damage done to the Indian economy by the United Progressive Alliance (UPA) government, look no further than the gross domestic product (GDP) figures. Indian GDP growth was as high as 8.1% in 2003-04, the second highest among its developing Asian peers. By 2013-14, India’s rank had slipped to the second lowest among the seven nations featured here.

That’s not all. Even in the South Asian region GDP growth in Bangladesh and Sri Lanka is now higher than India’s, according to the International Monetary fund (IMF). The drop in ranking indicates that it was not just the financial crisis that was responsible for the slowdown in Indian growth rates—that would affect our peers too—but home-grown problems. The new government needs to restore the country’s ranking in the growth league tables.

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