India, Sept. 27 -- The Indian economy has been on a ventilator for a while now. Despite the Government's numerous attempts to claim the opposite, the crisis is very much visible. This time around, the Modi-led Government cannot wriggle its way out by fudging data as it had been doing until now.

Over the last four months, Finance Minister Nirmala Sitharaman has announced some policy initiatives every few weeks to boost the economy. While these are paraded as reforms, she has effectively reversed all the decisions made in her first maiden budget. Nevertheless, she deserves credit for finally acknowledging that the economy is in trouble and that steps need to be taken to alleviate the current crisis.

Last week, the Finance Minister announc...