Modi Own Goal Swamps India’s Big-Bang Year, Clouds 2017 Outlook

India started 2016 as the world’s fastest-growing major economy, but at its end the nation faces a significant slowdown and the delay of what’s been hailed as Prime Minister Narendra Modi’s greatest reform — the creation of an integrated marketplace. Much of the pain is self-inflicted as Modi’s decision last month to drain 86 percent of currency in circulation stalled spending and caused a political stalemate on a landmark sales-tax reform.