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Need far-reaching reforms for India to be developed nation
Since 1990, 34 middle-income economies covering only around 250 million people have managed to shift to high-income status
80% of firms set up in post-economic reforms era have huge debt burden
Of the 67 top listed companies not able to service interest on their debt during 2016-17 due to inadequate profits, 53 started operations in the post-1980 period