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First of all here's the non paywalled here https://archive.is/4kie1
This reporter is living in New Delhi and reporting from there but is very ignorant or biased to the media in the west. Have a look at the opening para:
A year ago, India was bouncing back from a recession caused by Covid-19 with a spring in its step. The country had overtaken China as the most populous country, and its leaders were declaring India the world’s fastest-growing major economy.
Recession? When did it happen? So, he was talking about a dive in 2020 which was similar everywhere due to lockdowns.
But he forgot to mention that India's GDP still managed to almost double its size in the previous 10 years.
However for the most other part it's correct in India's current situation.
India's growth since 1981 is staggering.
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I think it's fairs to refer to the Covid period as an economic recession, but you're right that it happened everywhere.
People tend to be pretty sloppy with the "slowing down"/"speeding up" analogy for macro economies. The best analogy for velocity is just GDP, because that's the measure of economic activity. Economic growth is like acceleration.
So, India's economy is still speeding up, but it isn't accelerating quite as hard.
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Yes, it isn't accelerating 9 to 10% you but I don't think a minor drop in some years is bad. At least it warrants a warning what needs to be done.
They are thinking about a tax cut and I'm very much hopeful that a cut will again pump the demand.
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A tax cut would be great. It might be even better for India to get some deregulation, though.
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Fyi, they tax Bitcoin profits at 30.2% + 1% in TDS. But this is for people selling, I don't really care. I don't even care for tax cut for fiat, I'm not paying, I won't be paying, I'm a rebel, haha.
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Good time to invest?
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