India’s economic fortunes have been ebbing since 2017. There are structural limits to the unequalising growth pattern fostered by successive liberalisations, underscored by the continuance of a rent-seeking economy, a fragile and abused financial system and a weak and increasingly ineffective Union government.
Has the pandemic made things worse? Two months in critical care and convalescence affords an opportunity to look at the situation with a fresh eye. The picture is grim.
India’s macroeconomic and growth track record, already poor and worsening, has been abysmal across the past year. The growth rate fell from 8.26 per cent in 2016 to 4.1 per
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