The pace weakened sharply over the past couple of years as slow reforms, a restrictivemonetarypolicy and uncertain global conditions weighed on the economy.
Slow progress in reforms to address industrial bottlenecks, a restrictivemonetarypolicy 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.