Economy: This is as good as it gets

Structural reforms are much less about privatisation, land, and labour, and more about expanding the scope of private enterprises and allowing them to be more competitive and productive

The growth of India’s gross domestic product (GDP) dropped to just 4.5 per cent in the second quarter of this fiscal year. For the entire year, growth will, at best, be 5 per cent. The common man is no wiser as to how, despite being ruled by a Vikas Purush for more than five years, growth has crashed from 7.5 per cent to 4.5 per cent. Despondency is all around, but there were hardly any cogent, official, economic arguments (other than silly sound bites from party lackeys) explaining this unexpected phenomenon. Well, official economic arguments are now available. Bibek Debroy,