All is not well with the Indian economy

.....India’s economic growth crashed to a four-year-low of 4.4% during April-June this year from 4.8% in the previous quarter, proving fears of a widespread slowdown as factories are producing less, companies are offering fewer jobs and prices continue to remain high. The estimates of India’s gross domestic product (GDP) — the broadest measure of value of all goods and services produced in the country — demonstrate a deeply hurt economy hit by a toxic mix of a free-falling rupee, dipping investment, high borrowing costs and rising prices. From a foreign investors’ darling to an economy characterised by policy flip-flops, the Indian economy’s turnabout has been as rapid as the heady 9%-plus growth it had once clocked during 2004-2008. Many analysts reckon it could get worse.............

Read - HT