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AUG 23, 2013 - Business Insider

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India's Economy Is In Its Tightest Spot Since 1991. Now, As Then, The Answer Is To Be Bold

IN MAY America’s Federal Reserve hinted that it would soon start to reduce its vast purchases of Treasury bonds. As global investors adjusted to a world without ultra-cheap money, there has been a great sucking of funds from emerging markets. Currencies and shares have tumbled, from Brazil to Indonesia, but one country has been particularly badly hit. Not so long ago India was celebrated as an economic miracle. In 2008 Manmohan Singh, the prime minister, said growth of 8-9% was India’s new cruising speed. He even predicted the end of the "chronic poverty, ignorance and disease, ... Read More

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