Three dangerous myths

The errors and misapprehensions that led to constant optimism about Indian growth

The kindest interpretation of the current government’s actions in the years leading up to this slowdown is that it genuinely believed its own propaganda. Some have feared that its habit of concealing and denying inconvenient data while pushing forward a rosy narrative for investors and voters suggests a cynical disconnect between its analysis in private and public. But this may be untrue. What if the government genuinely believed that, all this time, the economy was a few quarters away from sustained high growth? This might raise one or two questions about their judgement and the government’s in-house analytical capabilities, but