“India was in a dire economic crisis…”

Illuminating as expected, thank you for doing the ineterview and sharing it with your readers.

India continues to lurch from crisis to crisis, it is challenging to nail down a specific one! Economy is just one aspect of the overall crisis-sepsis! When hubris replaces critical thinking, it is dificult to focus on the solution.

The current economic crisis has its roots in institutional erosion, where cheerleders take place of dispassionate policy makers. Secondly, the hype surrounding financial services sector of the economy has had the efect of concealing other faultliines. Similarly, the growth in residential real-estate actiivity has lulled the general public into a false sense of security. China is a liviing example of what happens when residential real estate sector starts unravelling, unlike China though, Indian economy doesn’t have a strong manufacturing and technology sector to fall back on.

Any growth model for the economy will fail if the all-pervasive corruption is not tackled. Corruption saps the soul of a naiton and is the main impediment to the success of any growth model.