Need for a structural push

A 10-notch slip in India's competitiveness calls for wider reforms

The global economy is slowing in a synchronised way and, according to the International Monetary Fund, as much as 90 per cent of the world is expected to witness lower growth this year. The Indian economy has also slowed sharply in recent quarters with growth slipping to a six-year low of 5 per cent in the April-June period of the current fiscal year. Recovery is not expected to be swift at a time when the global economy is losing steam. That would require significant policy intervention. The need for deeper policy intervention in India is also underlined by the latest