Subir Gokarn, director of research at the Indian arm of global think tank Brookings Institution and former deputy governor of RBI, says he is still not in a position to reconcile the dissonance between GDP and IIP data as the new numbers leave a question as to what stage of the business cycle the economy is operating in. In a chat with VCCircle, he points out that the key barrier to the Indian economy is infrastructure constraints. However, India is better placed among BRICS nations given that it is a commodity importer and there is hope that government will push ahead with its reforms agenda, he says.

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