India’s 7.5% growth rate may be overstated: US

Highly appreciative of the series of economic reforms, in particular streamlining bureaucratic decision making and raising FDI limits in certain sectors, US State Department in a report said on Tuesday, the Modi government has been slow to propose other economic reforms that would match its rhetoric.

Noting that many of the reforms it did propose have struggled to pass through Parliament, the report ‘Investment Climate Statements for 2016’ by the Bureau of Economic and Business Affairs of the State Department said that this has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government.