<|begin_of_text|><|begin_of_text|><|begin_of_text|>Around six months or so back, the prevailing consensus was that India would be affected by the global crisis, but growth wouldn’t slip below 7%.
Now that’s more or less the official rose-tinted-glasses view. Then we<wm> move ahead in time for a modest improvement in human well-being, and one must look only with the eyes to see that those projections seem a lot closer than before.
Growth that has actually, for its own sake, had to be relatively quiet during a time of extreme turmoil as seen during the crisis. These new projections also require a global economic growth rate of only around 6%, whereas previous projections were of the order of above 11%. This is both of our own making – as the growth</wm>, of course, is almost certainly dependent on our economic conditions.
Of late, the growth rate,