Operation Clean Hands, Indian Style?
India's bold program to transform its socialist economy and attract huge flows of foreign investment is in limbo. The government of Prime Minister P.V. Narasimha Rao, weakened by losses in local elections to the nationalist Hindu opposition, has been stalling on key economic reforms, and new investments have dropped in the past several months. Economic growth of 5.5% lags far behind the double-digit pace of China, Asia's other giant.
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