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Indian economic growth has been in a free fall for three years now, and GDP contracted a whopping 23.9% in the April-June quarter, the first time in four decades. Fitch and Goldman Sachs foresee a double digit collapse of India’s GDP growth for the whole year. The government appears unable to manage the complex Indian economy. As things stand today, India’s dream of becoming a $5 trillion economy by 2024 now looks distant, if not unachievable.
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