BoP: Zero Dark Thirteen?

The current external fragility has not appeared suddenly; it is a result of sustained neglect and economic mismanagement

Shankar Acharya

Fourteen months ago ('Roosting chickens, building crises', January 12, 2012) I warned that at least four crises were in the making: an external payments crisis, a crisis of several years of slow growth, a job scarcity crisis for the "youth bulge"┬Łand a serious weakening of our national security capacity. Where do we stand today? Well, we seem to be well into the crisis of prolonged low growth: 6.2 per cent in 2011-12, five per cent this year and less than six per cent in 2013-14. Even if you take the government's more optimistic forecast for 2013-14, in the three years ...