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The World’s Most Over-Optimistic Country

Nov. 28 (Bloomberg) -- What a difference a couple of months can make. In September, India’s growth rate had slowed to its lowest in a decade, inflation was high, and the rupee ranked as one of the worst-performing currencies in Asia.

Suddenly, the mood has turned more upbeat. The news media brim with confidence that India has “turned the corner.” The stock market rose more than 9 percent last month, to an all-time high. A few weeks ago, Finance Minister Palaniappan Chidambaram said he saw many signs of “green shoots” in India’s economy.