The mood was grim before India's fi-nance minister, Yashwant Sinha, stood up in Parliament on February 28th to tell the country where the government would try to lead the economy during the forthcoming fiscal year. Growth is said to have declined sharply, to what is expected to be under 6% in the fiscal year just ending. Farmers and industrialists are fretting about the impending removal of the last import quotas (on April 1st) and about cheap manufactures from China. The economic reforms that began a decade ago have slowed to a crawl.
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