Retail inflation in India rises to 7.35% in December, breaching RBI's medium-term target of 4%.
Out of Control: Retail inflation in India rose to 7.35% in December (breaching RBI's medium-term target of 4%) vs 5.54% in November and 2.11% in December 2018. Business Today
Once promising economies such as Mexico, Brazil, or Turkey could never break into the ranks of rich nations. Unfortunately, they fell into what economists call the “middle-income trap.” Coined in 2006 by World Bank economists Indermit Gill and Homi Kharas, the term refers to a sustained economic slowdown following a period of strong growth.
Is India, which began sprinting towards the goal of a high-income economy after economic liberalisation in the 90s, headed for such a trap? Read in full here.
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