The pace weakened sharply over the past couple of years as slow reforms, arestrictivemonetarypolicy and uncertain global conditions weighed on the economy.
Slow progress in reforms to address industrial bottlenecks, arestrictivemonetarypolicy and faltering demand from advanced nations have slowed India's economic growth to its lowest in a decade.
Rather than being seen as a sign of desperation, this should be viewed instead as a mid-course correction to offset the impact of the restrictivemonetarypolicy that the country has implemented over the past two years.