UK Economy: A crisis in the making for some time, with India trade deal offering hope

London: It has been anything but a smooth ride for the Rishi Sunak led UK government, with the latest official data released this week reflecting a shrinking economy and a looming two-year-long recession.

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The British Indian former finance minister, who took charge at 10 Downing Street last month with the promise to fix the fiscal errors of predecessor Liz Truss’ disastrous mini-budget, has pledged to get a grip on the soaring inflation as a priority and warned of tough tax and spending decisions ahead.

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Economic experts agree on the massive scale of the challenge, even as they hold out the prospect of a free trade agreement (FTA) with India as a potential generator of much-needed economic growth. (PTI)

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