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Opinion

Narendra Modi must stop squeezing India's middle class

Rent-seeking policies end up slashing disposable income and capping demand

| India
Shoppers in Kolkata, pictured on Oct. 13: Modi government's policies are putting the squeeze on India's middle class.   © NurPhoto/Getty Images

Ritesh Kumar Singh is chief economist of Indonomics Consulting and a former assistant director of the Finance Commission of India.

A major attraction for international investors looking at India in recent years has been the country's fast-growing middle class, which is estimated to include up to 350 million people.

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