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Saving the economy
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India, Aug. 23 -- To be fair to Indian policy-makers, it is true that the economic slowdown is impacting countries across the world, and they could potentially use that as a crutch to explain away India's current problems. That would be wrong, because while global issues do impact India, particularly Indian exports, the fact is that the Indian economy is more self-contained than most people imagine. Besides many of our problems have been created by a combination of poor policy, poor implementation and poor management. It is also true that a lot of the current trouble with reduced credit offtake can be traced back to the profligacy of banks during the UPA era, with politically connected people getting loans at extremely favourable terms. H...
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