The former Finance Minister P Chidambaram said the growth numbers were driven by low oil prices that overstated the GDP deflator and increased government expenditure.
He added that the7.2 per cent growth hides the nominal GDP growth of 6 per cent.
The opportunity for internet businesses is huge, considering the fact that the size of the Indian internet economy is $30 billion. Limeroad Founder and CEO, Suchi Mukehrjee said that the huge difference between retail prices and manufacturing costs allows for a lot of disruption.
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