Experts are brainstorming on the possibility that India might fall under the trap of a middle-income trap. The term which refers to a sustained economic slowdown following a period of strong growth was coined by World Bank economists Homi Kharas and Indermit Gill in 2006.
The phenomenon earlier occurred with economies like Brazil, Mexico, Turkey etc. They could not attain the prosperity of Japan or western Europe as ....
Tags : Indian Economy, Economic Slowdown, Middle income trap ,
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